Chewy (NYSE:CHWY) Sets New 1-Year High - Still a Buy?

Chewy, Inc. (NYSE:CHWY - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $45.01 and last traded at $44.85, with a volume of 1526123 shares. The stock had previously closed at $43.92.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Citigroup raised their target price on Chewy from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Wedbush restated an "outperform" rating and set a $39.00 price target on shares of Chewy in a report on Thursday, March 27th. Barclays raised their target price on Chewy from $40.00 to $44.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Morgan Stanley cut their price objective on shares of Chewy from $40.00 to $39.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Mizuho boosted their target price on shares of Chewy from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.47.

Chewy Trading Up 0.9%

The business's 50 day moving average price is $36.40 and its two-hundred day moving average price is $35.54. The stock has a market cap of $18.32 billion, a P/E ratio of 48.68, a price-to-earnings-growth ratio of 2.21 and a beta of 1.69.

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

Insider Activity at Chewy

In other news, CTO Satish Mehta sold 71,365 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the transaction, the chief technology officer now directly owns 262,853 shares in the company, valued at $9,357,566.80. This trade represents a 21.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sumit Singh sold 8,552 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were 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 $2,070,901.60. This represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 307,411 shares of company stock worth $11,928,229. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chewy

A number of large investors have recently bought and sold shares of the business. BC Partners PE LP purchased a new stake in Chewy in the 1st quarter worth $7,142,402,000. Vanguard Group Inc. increased its holdings in Chewy by 31.8% in the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock valued at $485,093,000 after purchasing an additional 3,493,926 shares during the last quarter. FMR LLC increased its stake in Chewy by 32.4% during 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 period. 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 valued at $150,345,000 after purchasing an additional 399,330 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in Chewy by 47.4% during the 4th 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. 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.

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