Chewy (NYSE:CHWY) Stock Has Average Target Price of $30.45 According to Brokerages

Key Points

• Analyst sentiment is moderately bullish: Twenty-five brokerages give Chewy a consensus “Moderate Buy” rating, with an average 12-month price target of $30.45 versus the reported share price of $20.96.
• Chewy exceeded quarterly expectations: The company reported earnings of $0.36 per share versus the $0.18 consensus estimate, while revenue reached $3.33 billion, up 7.3% year over year.
• Institutional ownership remains high: Institutional investors and hedge funds own 93.09% of Chewy’s shares, although the company’s chief accounting officer recently sold 17,283 shares under a pre-arranged trading plan.

Chewy (NYSE:CHWY - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty-five ratings firms that are currently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $30.45.

A number of equities research analysts have recently weighed in on CHWY shares. Raymond James Financial raised their price target on shares of Chewy from $25.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, September 4th. Citigroup reaffirmed a "market outperform" rating on shares of Chewy in a report on Thursday, September 10th. Royal Bank Of Canada lowered their price objective on shares of Chewy from $34.00 to $31.00 and set an "outperform" rating for the company in a research report on Thursday, September 10th. Weiss Ratings raised shares of Chewy from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, September 28th. Finally, Zacks Research raised shares of Chewy from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th.

Insider Buying and Selling at Chewy

In other news, CAO William G. Billings sold 17,283 shares of the company's stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $21.00, for a total transaction of $362,943.00. Following the completion of the transaction, the chief accounting officer directly owned 39,772 shares in the company, valued at approximately $835,212. This represents a 30.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Chewy

Several hedge funds have recently modified their holdings of the company. Amundi raised its position in Chewy by 191.8% in the first quarter. Amundi now owns 1,466,126 shares of the company's stock valued at $39,584,000 after purchasing an additional 963,750 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Chewy by 392.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 275,612 shares of the company's stock worth $7,442,000 after purchasing an additional 219,696 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Chewy by 12.7% during the first quarter. Bank of America Corp DE now owns 4,816,924 shares of the company's stock worth $130,057,000 after purchasing an additional 542,298 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Chewy by 685.2% in the fourth quarter. Hsbc Holdings PLC now owns 89,204 shares of the company's stock valued at $2,956,000 after buying an additional 77,843 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Chewy by 764.8% in the first quarter. SG Americas Securities LLC now owns 2,213,220 shares of the company's stock valued at $59,757,000 after buying an additional 1,957,284 shares during the period. Institutional investors and hedge funds own 93.09% of the company's stock.

Chewy Price Performance

Shares of CHWY stock traded down $0.35 on Friday, hitting $20.96. 7,678,945 shares of the company's stock were exchanged, compared to its average volume of 9,395,786. 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 12 month low of $17.40 and a 12 month high of $38.25. The stock has a market cap of $8.43 billion, a P/E ratio of 31.76, a price-to-earnings-growth ratio of 0.89 and a beta of 1.38. The company has a 50 day moving average of $21.23 and a 200 day moving average of $22.01.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings data on Wednesday, September 9th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.18. Chewy had a return on equity of 60.88% and a net margin of 2.09%. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period last year, the firm posted $0.33 earnings per share. Chewy's revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that Chewy will post 0.76 EPS for the current year.

About Chewy

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

The company also offers prescription and over-the-counter medications through Chewy Pharmacy, as well as pet health products and related services. Its Autoship program allows customers to schedule recurring deliveries of regularly purchased items, while customer support and other digital features are designed to support pet owners throughout the pet-care lifecycle.

Chewy was founded in 2011 by Ryan Cohen and Michael Day and was acquired by PetSmart in 2017.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.