Chewy (NYSE:CHWY) Sees Large Volume Increase - What's Next?

Chewy (NYSE:CHWY - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 7,514,217 shares were traded during mid-day trading, an increase of 10% from the previous session's volume of 6,830,142 shares.The stock last traded at $42.90 and had previously closed at $43.36.

Analyst Ratings Changes

CHWY has been the topic of several analyst reports. Needham & Company LLC restated a "hold" rating on shares of Chewy in a research report on Thursday, June 12th. Royal Bank Of Canada reiterated an "outperform" rating and set a $44.00 price target (up from $42.00) on shares of Chewy in a research report on Thursday, June 12th. The Goldman Sachs Group lifted their price target on Chewy from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Wall Street Zen lowered Chewy from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Evercore ISI set a $52.00 price objective on Chewy and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chewy has an average rating of "Moderate Buy" and a consensus target price of $43.39.

Chewy Trading Down 1.8%

The firm has a market cap of $17.70 billion, a price-to-earnings ratio of 47.89, a PEG ratio of 8.90 and a beta of 1.75. The firm has a 50-day moving average of $41.05 and a two-hundred day moving average of $37.10.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the company posted $0.31 earnings per share. The company's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that Chewy will post 0.24 EPS for the current year.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 8,552 shares of the company's 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 transaction, the chief executive officer now owns 62,096 shares of the company's stock, valued at approximately $2,070,901.60. This represents a 12.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Reeder sold 7,863 shares of the company's stock in a transaction 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 transaction, the chief financial officer now directly owns 11,582 shares in the company, valued at approximately $422,743. This represents a 40.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 236,046 shares of company stock worth $9,387,635 in the last three months. Insiders own 0.43% of the company's stock.

Institutional Trading of Chewy

Hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its position in shares of Chewy by 150.2% in the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock valued at $26,000 after acquiring an additional 473 shares during the last quarter. Banque Transatlantique SA acquired a new stake in shares of Chewy in the fourth quarter valued at about $30,000. Golden State Wealth Management LLC increased its position in shares of Chewy by 104.6% in the first quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after acquiring an additional 481 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Chewy in the first quarter valued at about $44,000. Finally, North Star Investment Management Corp. increased its position in shares of Chewy by 26.6% in the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock valued at $55,000 after acquiring an additional 353 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company's stock.

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.