Chewy (NYSE:CHWY) Trading 3.4% Higher

Chewy, Inc. (NYSE:CHWY)’s stock price was up 3.4% during mid-day trading on Tuesday . The company traded as high as $17.19 and last traded at $17.13. Approximately 4,631,394 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 9,114,896 shares. The stock had previously closed at $16.57.

Analysts Set New Price Targets

A number of research analysts have issued reports on CHWY shares. Wedbush restated an “outperform” rating and issued a $25.00 target price on shares of Chewy in a report on Thursday, March 21st. Bank of America cut their price objective on shares of Chewy from $17.00 to $16.50 and set an “underperform” rating on the stock in a report on Thursday, March 21st. Piper Sandler cut their price objective on shares of Chewy from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, March 21st. Royal Bank of Canada cut their price objective on shares of Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $28.00 price objective on shares of Chewy in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.64.

Chewy Stock Up 1.3 %

The business’s 50 day moving average is $16.92 and its 200-day moving average is $18.75. The firm has a market cap of $7.30 billion, a P/E ratio of 207.09, a price-to-earnings-growth ratio of 9.18 and a beta of 0.91.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. Chewy had a net margin of 0.33% and a return on equity of 11.69%. As a group, equities analysts predict that Chewy, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In other news, CTO Satish Mehta sold 40,523 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total transaction of $717,257.10. Following the completion of the transaction, the chief technology officer now owns 557,058 shares of the company’s stock, valued at $9,859,926.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Chewy news, CTO Satish Mehta sold 40,523 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $17.70, for a total value of $717,257.10. Following the sale, the chief technology officer now directly owns 557,058 shares in the company, valued at $9,859,926.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Stacy Bowman sold 8,025 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $124,628.25. Following the completion of the sale, the chief accounting officer now owns 243,769 shares in the company, valued at $3,785,732.57. The disclosure for this sale can be found here. Over the last quarter, insiders sold 250,169 shares of company stock valued at $4,396,079. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chewy

Several hedge funds and other institutional investors have recently bought and sold shares of CHWY. Baillie Gifford & Co. raised its holdings in Chewy by 16.8% during the 4th quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock worth $436,748,000 after buying an additional 2,654,376 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Chewy during the 4th quarter worth about $42,223,000. Bank of New York Mellon Corp raised its holdings in Chewy by 101.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company’s stock worth $63,518,000 after buying an additional 1,751,131 shares during the period. Voya Investment Management LLC raised its holdings in Chewy by 27.9% during the 4th quarter. Voya Investment Management LLC now owns 6,564,258 shares of the company’s stock worth $155,113,000 after buying an additional 1,430,897 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Chewy by 13.5% during the 4th quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock worth $226,959,000 after buying an additional 1,140,269 shares during the period. 93.09% of the stock is currently owned by institutional investors.

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.