Chewy (NYSE:CHWY) Trading 3.4% Higher

Chewy, Inc. (NYSE:CHWY - Get Free Report)'s share price rose 3.4% on Tuesday . The stock traded as high as $17.19 and last traded at $17.13. Approximately 4,631,394 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 9,114,896 shares. The stock had previously closed at $16.57.

Analyst Ratings Changes

CHWY has been the topic of several research reports. Mizuho initiated coverage on shares of Chewy in a research note on Tuesday, March 19th. They issued a "neutral" rating and a $18.00 price objective on the stock. Royal Bank of Canada dropped their price objective on shares of Chewy from $35.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, March 22nd. JMP Securities restated a "market outperform" rating and set a $28.00 price target on shares of Chewy in a research note on Friday, March 15th. Barclays upgraded shares of Chewy from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $19.00 to $30.00 in a research note on Thursday, January 11th. Finally, Needham & Company LLC restated a "buy" rating and set a $25.00 price target on shares of Chewy in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.64.

Chewy Trading Down 0.1 %

The business's fifty day simple moving average is $16.91 and its two-hundred day simple moving average is $18.74. The stock has a market capitalization of $7.20 billion, a P/E ratio of 206.96, a P/E/G ratio of 9.18 and a beta of 0.91.

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, beating analysts' consensus estimates of ($0.05) by $0.09. Chewy had a net margin of 0.33% and a return on equity of 11.69%. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. On average, equities research analysts anticipate that Chewy, Inc. will post 0.08 earnings per share for the current year.

Insider Transactions at Chewy

In other news, CTO Satish Mehta sold 40,523 shares of the firm's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $17.70, for a total transaction of $717,257.10. Following the completion of the transaction, the chief technology officer now directly owns 557,058 shares of the company's stock, valued at approximately $9,859,926.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Stacy Bowman sold 8,025 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 transaction of $124,628.25. Following the completion of the transaction, the chief accounting officer now directly owns 243,769 shares of the company's stock, valued at approximately $3,785,732.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Satish Mehta sold 40,523 shares of Chewy stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $17.70, for a total transaction of $717,257.10. Following the transaction, the chief technology officer now directly owns 557,058 shares of the company's stock, valued at $9,859,926.60. The disclosure for this sale can be found here. In the last three months, insiders sold 250,169 shares of company stock valued at $4,396,079. Company insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Chewy

Several institutional investors have recently added to or reduced their stakes in CHWY. Bank of New York Mellon Corp lifted its holdings in Chewy by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 146,374 shares of the company's stock valued at $5,969,000 after purchasing an additional 3,814 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in Chewy by 40.0% during the 1st quarter. Panagora Asset Management Inc. now owns 24,000 shares of the company's stock valued at $979,000 after purchasing an additional 6,863 shares during the last quarter. BlackRock Inc. increased its position in Chewy by 5.1% in the 1st quarter. BlackRock Inc. now owns 2,329,086 shares of the company's stock valued at $94,981,000 after acquiring an additional 112,753 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Chewy by 7.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 155,106 shares of the company's stock valued at $6,326,000 after acquiring an additional 11,146 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in Chewy by 10.7% in the 1st quarter. Vontobel Holding Ltd. now owns 38,171 shares of the company's stock valued at $1,633,000 after acquiring an additional 3,682 shares in the last quarter. 93.09% of the stock is owned by institutional investors.

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.