Chewy (NYSE:CHWY) Reaches New 1-Year Low Following Analyst Downgrade

Shares of Chewy, Inc. (NYSE:CHWY - Get Free Report) reached a new 52-week low on Wednesday after Piper Sandler lowered their price target on the stock from $19.00 to $16.00. Piper Sandler currently has a neutral rating on the stock. Chewy traded as low as $15.07 and last traded at $15.09, with a volume of 8572021 shares changing hands. The stock had previously closed at $15.60.

CHWY has been the subject of a number of other reports. Wedbush reissued an "outperform" rating and issued a $25.00 target price on shares of Chewy in a report on Thursday, March 21st. Barclays raised shares of Chewy from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $19.00 to $30.00 in a report on Thursday, January 11th. Mizuho initiated coverage on shares of Chewy in a report on Tuesday, March 19th. They issued a "neutral" rating and a $18.00 target price for the company. Bank of America cut their target price on shares of Chewy from $17.00 to $16.50 and set an "underperform" rating for the company in a report on Thursday, March 21st. Finally, The Goldman Sachs Group dropped their price objective on shares of Chewy from $36.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Chewy currently has an average rating of "Moderate Buy" and a consensus price target of $27.50.

Insider Transactions at Chewy

In related news, CAO Stacy Bowman sold 8,025 shares of Chewy stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total value of $124,628.25. Following the completion of the sale, the chief accounting officer now directly owns 243,769 shares in the company, valued at $3,785,732.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Stacy Bowman sold 8,025 shares of Chewy stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total value of $124,628.25. Following the completion of the sale, the chief accounting officer now directly owns 243,769 shares in the company, valued at $3,785,732.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 6,728 shares of Chewy stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $104,485.84. Following the completion of the sale, the chief executive officer now owns 129,991 shares of the company's stock, valued at $2,018,760.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,169 shares of company stock worth $4,396,079. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chewy

Large investors have recently added to or reduced their stakes in the company. Headinvest LLC bought a new position in Chewy in the third quarter worth about $39,000. Quest Partners LLC bought a new position in Chewy in the fourth quarter worth about $65,000. Signaturefd LLC raised its holdings in Chewy by 37.8% in the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company's stock worth $79,000 after purchasing an additional 922 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Chewy by 15.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company's stock worth $95,000 after purchasing an additional 543 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in Chewy in the first quarter worth about $65,000. 93.09% of the stock is currently owned by institutional investors.

Chewy Price Performance

The firm has a market capitalization of $6.56 billion, a P/E ratio of 188.65, a P/E/G ratio of 8.17 and a beta of 0.90. The stock's fifty day simple moving average is $16.76 and its 200 day simple moving average is $18.63.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.09. Chewy had a return on equity of 11.69% and a net margin of 0.33%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. As a group, sell-side analysts forecast that Chewy, Inc. will post 0.08 EPS for the current fiscal year.

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.