Chewy (NYSE:CHWY) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Chewy (NYSE:CHWY - Get Free Report) have received an average recommendation of "Moderate Buy" from the twenty-five ratings firms that are presently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $43.39.

CHWY has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed an "overweight" rating and set a $50.00 price objective (up from $39.00) on shares of Chewy in a report on Thursday, June 12th. Seaport Res Ptn raised shares of Chewy to a "hold" rating in a report on Monday, March 24th. Mizuho lowered shares of Chewy from an "outperform" rating to a "neutral" rating and raised their target price for the company from $43.00 to $47.00 in a report on Monday, June 9th. Wall Street Zen lowered shares of Chewy from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, Deutsche Bank Aktiengesellschaft set a $27.00 target price on shares of Chewy and gave the company a "hold" rating in a report on Monday, April 14th.

Chewy Price Performance

Shares of CHWY opened at $42.82 on Friday. Chewy has a 1 year low of $19.75 and a 1 year high of $48.62. The company has a 50 day simple moving average of $41.53 and a two-hundred day simple moving average of $37.34. The firm has a market cap of $17.78 billion, a P/E ratio of 48.12, a price-to-earnings-growth ratio of 8.94 and a beta of 1.75.

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

Insiders Place Their Bets

In other news, CEO Sumit Singh sold 8,552 shares of Chewy stock in a transaction 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 directly owns 62,096 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of Chewy stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $41.75, for a total value of $1,250,000,010.00. The disclosure for this sale can be found here. Insiders sold 30,176,166 shares of company stock valued at $1,259,387,645 over the last three months. 0.43% of the stock is owned by company insiders.

Institutional Trading of Chewy

Several institutional investors and hedge funds have recently made changes to their positions in CHWY. BC Partners PE LP bought a new stake in shares of Chewy during the first quarter worth $7,142,402,000. Vanguard Group Inc. raised its holdings 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 valued at $485,093,000 after acquiring an additional 3,493,926 shares in the last quarter. Durable Capital Partners LP bought a new stake in shares of Chewy in the fourth quarter valued at about $79,050,000. Invesco Ltd. raised its holdings in shares of Chewy by 4,577.5% in the fourth quarter. Invesco Ltd. now owns 2,191,146 shares of the company's stock valued at $73,381,000 after acquiring an additional 2,144,302 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Chewy in the fourth quarter valued at about $69,789,000. 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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