Chewy, Inc. (NYSE:CHWY) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Chewy, Inc. (NYSE:CHWY - Get Free Report) have received an average rating of "Moderate Buy" from the twenty-three research firms that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $38.47.

A number of research firms have recently commented on CHWY. Royal Bank of Canada reissued an "outperform" rating and set a $42.00 price target on shares of Chewy in a report on Thursday, March 27th. Seaport Res Ptn raised Chewy to a "hold" rating in a report on Monday, March 24th. Wedbush reissued an "outperform" rating and set a $39.00 price target on shares of Chewy in a report on Thursday, March 27th. Morgan Stanley lowered their price target on Chewy from $40.00 to $39.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, JMP Securities lowered their price target on Chewy from $40.00 to $39.00 and set a "market outperform" rating for the company in a report on Monday, April 14th.

Chewy Stock Up 1.3%

Shares of NYSE:CHWY traded up $0.55 during trading on Friday, reaching $41.54. 2,168,010 shares of the company traded hands, compared to its average volume of 7,318,430. The company's 50 day moving average is $34.71 and its two-hundred day moving average is $34.61. The firm has a market capitalization of $17.18 billion, a PE ratio of 45.73, a PEG ratio of 2.21 and a beta of 1.69. Chewy has a 52 week low of $15.78 and a 52 week high of $41.69.

Chewy (NYSE:CHWY - Get Free Report) last released its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.25. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company's revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. As a group, research analysts anticipate that Chewy will post 0.24 EPS for the current year.

Insider Activity

In related news, CEO Sumit Singh sold 8,552 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total transaction of $285,209.20. Following the completion of the sale, the chief executive officer now owns 62,096 shares of the company's stock, valued at $2,070,901.60. This trade represents a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David Reeder sold 7,863 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $36.50, for a total value of $286,999.50. Following the sale, the chief financial officer now directly owns 11,582 shares of the company's stock, valued at $422,743. This represents a 40.44% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,605 shares of company stock valued at $3,872,220. Company insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Chewy

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Chewy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock worth $485,093,000 after purchasing an additional 3,493,926 shares during the period. FMR LLC boosted its holdings in Chewy by 32.4% in the fourth quarter. FMR LLC now owns 5,288,757 shares of the company's stock worth $177,120,000 after acquiring an additional 1,293,428 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Chewy by 9.8% in the fourth quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company's stock worth $150,345,000 after acquiring an additional 399,330 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Chewy by 47.4% in the fourth quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company's stock worth $129,495,000 after acquiring an additional 1,243,981 shares in the last quarter. Finally, Durable Capital Partners LP bought a new position in Chewy in the fourth quarter worth approximately $79,050,000. Institutional investors and hedge funds own 93.09% of the company's stock.

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.