Chewy (NYSE:CHWY) Stock: Insider William Billings Sells 17,283 Shares

Chewy (NYSE:CHWY) CAO William Billings sold 17,283 shares of the firm’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $21.00, for a total value of $362,943.00. Following the sale, the chief accounting officer directly owned 39,772 shares in the company, valued at approximately $835,212. This represents a 30.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chewy Price Performance

Shares of Chewy stock traded down $0.35 during trading hours on Friday, hitting $20.96. The company’s stock had a trading volume of 7,678,915 shares, compared to its average volume of 8,673,609. The company has a market cap of $8.43 billion, a PE ratio of 31.76, a PEG ratio of 0.87 and a beta of 1.38. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.42 and a current ratio of 0.84. The business has a 50 day moving average price of $21.28 and a two-hundred day moving average price of $22.01. Chewy has a 12-month low of $17.40 and a 12-month high of $38.25.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, September 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.18. Chewy had a return on equity of 60.88% and a net margin of 2.09%. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter last year, the business posted $0.33 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. Analysts expect that Chewy will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chewy

Several institutional investors have recently added to or reduced their stakes in the company. Brindle & Bay Financial Advisors LLC bought a new position in shares of Chewy during the 3rd quarter valued at approximately $185,000. Retirement Planning Co of New England Inc. lifted its position in Chewy by 16.7% during the third quarter. Retirement Planning Co of New England Inc. now owns 20,161 shares of the company’s stock valued at $367,000 after purchasing an additional 2,887 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Chewy by 39.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 32,785 shares of the company’s stock worth $596,000 after buying an additional 9,250 shares in the last quarter. Curated Wealth Partners LLC purchased a new position in shares of Chewy in the 3rd quarter worth $246,000. Finally, Signal Advisors Wealth LLC purchased a new position in shares of Chewy in the 3rd quarter worth $202,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Rosenblatt Securities dropped their price target on Chewy from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $24.00 price objective (down from $29.00) on shares of Chewy in a research report on Friday, September 11th. Citizens Jmp reiterated a “market outperform” rating and issued a $28.00 price target on shares of Chewy in a report on Thursday, September 10th. The Goldman Sachs Group reduced their price target on shares of Chewy from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, September 11th. Finally, Raymond James Financial boosted their price target on shares of Chewy from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Chewy currently has a consensus rating of “Moderate Buy” and an average price target of $30.45.

About Chewy

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile application, the company sells food, treats, toys, supplies, accessories and other products for dogs, cats, fish, birds, reptiles and small pets.

The company also offers prescription and over-the-counter medications through Chewy Pharmacy, as well as pet health products and related services. Its Autoship program allows customers to schedule recurring deliveries of regularly purchased items, while customer support and other digital features are designed to support pet owners throughout the pet-care lifecycle.

Chewy was founded in 2011 by Ryan Cohen and Michael Day and was acquired by PetSmart in 2017.