Chewy (NYSE:CHWY) CEO Sumit Singh Sells 29,557 Shares

Key Points

• CEO Sumit Singh of Chewy sold 29,557 shares at an average price of $35.57, representing a 5.19% decrease in his ownership, bringing his total holdings to 540,406 shares.
• Chewy reported $3.12 billion in revenue for its latest quarter, exceeding analyst expectations, with earnings per share of $0.35, slightly beating the consensus estimate of $0.34.
• Several investment firms have upgraded their ratings on Chewy stock, with price targets ranging from $43.00 to $48.00, reflecting increasing optimism among analysts.

Chewy (NYSE:CHWY - Get Free Report) CEO Sumit Singh sold 29,557 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $35.57, for a total value of $1,051,342.49. Following the sale, the chief executive officer owned 540,406 shares of the company's stock, valued at approximately $19,222,241.42. The trade was a 5.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sumit Singh also recently made the following trade(s):

• On Monday, August 4th, Sumit Singh sold 4,264 shares of Chewy stock. The shares were sold at an average price of $35.57, for a total value of $151,670.48.
• On Wednesday, May 14th, Sumit Singh sold 148,063 shares of Chewy stock. The shares were sold at an average price of $40.67, for a total value of $6,021,722.21.
• On Tuesday, May 13th, Sumit Singh sold 50,743 shares of Chewy stock. The stock was sold at an average price of $40.09, for a total value of $2,034,286.87.

Chewy Price Performance

Shares of NYSE CHWY traded up $0.42 during midday trading on Wednesday, hitting $34.69. The stock had a trading volume of 4,473,603 shares, compared to its average volume of 5,913,771. The company's 50-day simple moving average is $40.90 and its 200 day simple moving average is $38.00. The firm has a market cap of $14.40 billion, a P/E ratio of 38.98, a price-to-earnings-growth ratio of 7.16 and a beta of 1.67. Chewy has a fifty-two week low of $21.97 and a fifty-two week high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company earned $0.31 EPS. The firm's revenue was up 6.3% on a year-over-year basis. Equities analysts expect that Chewy will post 0.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on CHWY. JPMorgan Chase & Co. raised their price objective on Chewy from $36.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, June 12th. Jefferies Financial Group reiterated a "hold" rating and issued a $43.00 price objective (up previously from $41.00) on shares of Chewy in a research report on Thursday, June 5th. Guggenheim reiterated a "buy" rating and issued a $45.00 price objective (up previously from $42.00) on shares of Chewy in a research report on Thursday, June 12th. JMP Securities raised their price objective on Chewy from $39.00 to $48.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 10th. Finally, UBS Group reissued a "neutral" rating and issued a $44.00 target price on shares of Chewy in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.78.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Liberty One Investment Management LLC boosted its position in shares of Chewy by 4.7% in the 1st quarter. Liberty One Investment Management LLC now owns 7,051 shares of the company's stock worth $229,000 after purchasing an additional 314 shares during the last quarter. North Star Investment Management Corp. boosted its position in shares of Chewy by 26.6% in the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock worth $55,000 after purchasing an additional 353 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Chewy by 2.3% in the 1st quarter. Federated Hermes Inc. now owns 15,685 shares of the company's stock worth $510,000 after purchasing an additional 354 shares during the last quarter. Park Avenue Securities LLC boosted its position in shares of Chewy by 5.3% in the 1st quarter. Park Avenue Securities LLC now owns 7,281 shares of the company's stock worth $237,000 after purchasing an additional 364 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Chewy by 13.7% during the second quarter. GAMMA Investing LLC now owns 3,369 shares of the company's stock worth $144,000 after acquiring an additional 405 shares in the last quarter. 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.

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