Chewy, Inc. (NYSE:CHWY) Given Average Recommendation of “Moderate Buy” by Brokerages

Chewy, Inc. (NYSE:CHWY) has been given an average recommendation of “Moderate Buy” by the twenty-three brokerages that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $38.68.

A number of research analysts have issued reports on CHWY shares. BNP Paribas lowered shares of Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research note on Thursday. Morgan Stanley lifted their price objective on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Citigroup increased their target price on Chewy from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Mizuho upped their price objective on shares of Chewy from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of Chewy stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sumit Singh sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $37.52, for a total transaction of $150,080.00. Following the completion of the transaction, the chief executive officer now owns 518,581 shares of the company’s stock, valued at approximately $19,457,159.12. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,083,269 shares of company stock valued at $290,611,129 in the last 90 days. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chewy

A number of hedge funds have recently made changes to their positions in the stock. Banque Transatlantique SA bought a new stake in Chewy in the fourth quarter valued at approximately $30,000. Fifth Third Bancorp increased its position in shares of Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after buying an additional 444 shares during the period. Blue Trust Inc. raised its stake in Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after buying an additional 320 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Chewy in the third quarter valued at $63,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Chewy during the fourth quarter valued at $67,000. 93.09% of the stock is currently owned by institutional investors.

Chewy Price Performance

NYSE:CHWY opened at $32.68 on Friday. The company has a market cap of $13.31 billion, a P/E ratio of 35.91, a P/E/G ratio of 2.21 and a beta of 1.23. Chewy has a one year low of $14.69 and a one year high of $40.09. The firm’s fifty day moving average price is $36.00 and its two-hundred day moving average price is $33.13.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter last year, the firm earned $0.07 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. As a group, equities research analysts expect that Chewy will post 0.24 earnings per share for the current year.

About Chewy

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.