Chewy (NYSE:CHWY) Shares Down 4.3%

Chewy, Inc. (NYSE:CHWY) traded down 4.3% on Thursday . The stock traded as low as $27.87 and last traded at $27.89. 3,127,424 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 9,709,041 shares. The stock had previously closed at $29.14.

Analyst Ratings Changes

CHWY has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Chewy from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Royal Bank of Canada decreased their price objective on Chewy from $35.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Piper Sandler lifted their price objective on Chewy from $16.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Raymond James lifted their price objective on Chewy from $19.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. Finally, Guggenheim lifted their price objective on Chewy from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

Chewy Price Performance

The stock has a market capitalization of $11.85 billion, a PE ratio of 151.33, a P/E/G ratio of 4.41 and a beta of 1.00. The company has a 50-day moving average of $19.83 and a two-hundred day moving average of $18.99.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, May 29th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.04 by $0.11. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. On average, research analysts forecast that Chewy, Inc. will post 0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $28.49, for a total value of $499,999,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $28.49, for a total value of $499,999,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sumit Singh sold 46,090 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $696,880.80. Following the completion of the sale, the chief executive officer now owns 1,379,100 shares of the company’s stock, valued at approximately $20,851,992. The disclosure for this sale can be found here. Insiders sold 17,618,862 shares of company stock worth $501,046,742 over the last three months. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Chewy

A number of hedge funds have recently bought and sold shares of the business. Cetera Advisors LLC acquired a new stake in Chewy during the 1st quarter valued at approximately $334,000. Swedbank AB bought a new position in Chewy during the 1st quarter worth approximately $416,000. Virtu Financial LLC bought a new position in Chewy during the 1st quarter worth approximately $388,000. California State Teachers Retirement System lifted its holdings in Chewy by 2.2% during the 1st quarter. California State Teachers Retirement System now owns 108,448 shares of the company’s stock worth $1,725,000 after buying an additional 2,321 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in Chewy by 3.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock worth $451,000 after buying an additional 870 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Company Profile

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.