Chewy (NYSE:CHWY) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts rate Chewy “Moderate Buy”: Of 26 analysts, 17 recommend buying, seven rate it a hold, one recommends selling, and one gives a strong buy rating. The average 12-month price target is $30.64.
• Chewy reported quarterly earnings of $0.36 per share, exceeding the $0.18 consensus estimate, while revenue reached $3.33 billion, up 7.3% year over year and slightly above expectations.
• Shares opened at $20.56, well below their 1-year high of $40.55. Institutional investors own 93.09% of the stock, while insider ownership stands at 0.34% following a general counsel’s sale of shares.

Chewy (NYSE:CHWY - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty-six research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $30.6364.

Several research analysts recently weighed in on CHWY shares. TD Cowen dropped their target price on shares of Chewy from $34.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, September 10th. Jefferies Financial Group restated a "hold" rating and issued a $23.00 price objective on shares of Chewy in a research report on Thursday, June 11th. Piper Sandler reaffirmed an "overweight" rating on shares of Chewy in a research note on Friday, August 21st. Citigroup reaffirmed a "market outperform" rating on shares of Chewy in a research note on Thursday, September 10th. Finally, Raymond James Financial lifted their target price on Chewy from $25.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, September 4th.

Insider Transactions at Chewy

In other news, General Counsel Da-Wai Hu sold 4,203 shares of Chewy stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $19.49, for a total transaction of $81,916.47. Following the sale, the general counsel owned 4,103 shares in the company, valued at $79,967.47. This trade represents a 50.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.

Institutional Trading of Chewy

Several hedge funds have recently bought and sold shares of the stock. Harbour Investments Inc. increased its holdings in shares of Chewy by 81.4% in the fourth quarter. Harbour Investments Inc. now owns 907 shares of the company's stock worth $30,000 after purchasing an additional 407 shares during the last quarter. Modus Advisors LLC bought a new stake in Chewy in the 4th quarter worth approximately $34,000. Parallel Advisors LLC increased its position in Chewy by 106.8% in the first quarter. Parallel Advisors LLC now owns 1,584 shares of the company's stock worth $43,000 after purchasing an additional 818 shares during the last quarter. Root Financial Partners LLC increased its position in Chewy by 137.0% in the first quarter. Root Financial Partners LLC now owns 2,969 shares of the company's stock worth $80,000 after purchasing an additional 1,716 shares during the last quarter. Finally, Globeflex Capital L P purchased a new stake in Chewy during the second quarter valued at $109,000. Hedge funds and other institutional investors own 93.09% of the company's stock.

Chewy Price Performance

Shares of NYSE:CHWY opened at $20.56 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.84 and a quick ratio of 0.42. Chewy has a 1-year low of $17.40 and a 1-year high of $40.55. The company has a market capitalization of $8.26 billion, a P/E ratio of 31.15, a P/E/G ratio of 0.85 and a beta of 1.42. The firm's 50 day simple moving average is $22.46 and its two-hundred day simple moving average is $22.82.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.18. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.32 billion. Chewy had a net margin of 2.09% and a return on equity of 60.88%. The company's revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. Research analysts expect that Chewy will post 0.77 EPS for the current fiscal year.

About Chewy

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile applications, the company sells pet food, treats, supplies, toys, bedding, medications, and other products for dogs, cats, fish, birds, reptiles, and small pets.

Chewy supports recurring purchases through its Autoship program and provides access to prescription and over-the-counter pet medications through Chewy Pharmacy. The company also offers pet health-related services, including veterinary consultations in certain markets, and sells products under a range of national and private-label brands.

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