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Chewy (NYSE:CHWY) Sets New 12-Month High - Here's Why

Chewy logo with Retail/Wholesale background

Chewy, Inc. (NYSE:CHWY - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $47.56 and last traded at $47.29, with a volume of 3550884 shares trading hands. The stock had previously closed at $45.25.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CHWY. Cowen reaffirmed a "buy" rating on shares of Chewy in a research note on Friday. Wedbush reiterated an "outperform" rating and issued a $39.00 price target on shares of Chewy in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft set a $27.00 price target on shares of Chewy and gave the stock a "hold" rating in a research report on Monday, April 14th. Barclays raised their price objective on Chewy from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. Finally, The Goldman Sachs Group upped their target price on Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $41.00.

View Our Latest Stock Report on CHWY

Chewy Price Performance

The stock's 50-day moving average price is $38.47 and its 200-day moving average price is $36.24. The company has a market cap of $19.92 billion, a P/E ratio of 52.92, a PEG ratio of 2.21 and a beta of 1.69.

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

Insider Activity

In other news, CEO Sumit Singh sold 8,552 shares of the 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 sale, the chief executive officer now directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David Reeder sold 11,582 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $36.44, for a total value of $422,048.08. Following the completion of the transaction, the chief financial officer now owns 397,556 shares in the company, valued at $14,486,940.64. The trade was a 2.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 236,046 shares of company stock worth $9,387,635. Corporate insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Chewy

Hedge funds and other institutional investors have recently made changes to their positions in the company. BC Partners PE LP bought a new position in shares of Chewy in the 1st quarter valued at $7,142,402,000. Vanguard Group Inc. boosted its stake in 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 buying an additional 3,493,926 shares in the last quarter. Durable Capital Partners LP bought a new position in Chewy in the fourth quarter valued at about $79,050,000. Invesco Ltd. grew its position in 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 during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Chewy during the fourth quarter worth about $69,789,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Company Profile

(Get Free Report)

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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