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

Shares of Chewy, Inc. (NYSE:CHWY - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty-four ratings firms that are presently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $41.00.

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft set a $27.00 target price on Chewy and gave the stock a "hold" rating in a research report on Monday, April 14th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $42.00 price target on shares of Chewy in a report on Thursday, March 27th. Mizuho upped their price target on shares of Chewy from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Thursday, March 27th. The Goldman Sachs Group upped their price target on shares of Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $43.00 price target (up previously from $41.00) on shares of Chewy in a report on Thursday.

Chewy Price Performance

Shares of NYSE:CHWY traded up $0.16 during trading on Wednesday, hitting $47.44. 6,006,381 shares of the company were exchanged, compared to its average volume of 6,909,177. The company has a market cap of $19.62 billion, a PE ratio of 52.14, a P/E/G ratio of 2.21 and a beta of 1.69. The stock has a 50 day moving average of $38.17 and a 200 day moving average of $36.13. Chewy has a 52-week low of $19.75 and a 52-week high of $48.21.

Chewy (NYSE:CHWY - Get Free Report) last posted its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.25. The firm had revenue of $3.25 billion for 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 business's quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 earnings per share. Sell-side analysts forecast that Chewy will post 0.24 EPS for the current fiscal year.

Insider Activity

In other news, CTO Satish Mehta sold 9,243 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $36.50, for a total transaction of $337,369.50. Following the transaction, the chief technology officer now directly owns 276,467 shares of the company's stock, valued at approximately $10,091,045.50. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 8,552 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total value of $285,209.20. Following the transaction, the chief executive officer now directly owns 62,096 shares in the company, valued at $2,070,901.60. This trade represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 236,046 shares of company stock valued at $9,387,635. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Chewy

Several large investors have recently modified their holdings of the business. BC Partners PE LP bought a new stake in shares of Chewy in the first quarter worth about $7,142,402,000. Vanguard Group Inc. grew its stake in shares of Chewy by 31.8% in 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 last quarter. FMR LLC grew its stake in shares of 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 purchasing an additional 1,293,428 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 purchasing an additional 399,330 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of 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 purchasing an additional 1,243,981 shares during the last quarter. 93.09% of the stock is owned by institutional investors.

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.