Chewy (NYSE:CHWY) Stock Price Down 5.2%

Shares of Chewy, Inc. (NYSE:CHWY - Get Free Report) traded down 5.2% during trading on Friday . The company traded as low as $17.55 and last traded at $17.58. 1,264,786 shares were traded during mid-day trading, a decline of 86% from the average session volume of 9,017,289 shares. The stock had previously closed at $18.54.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CHWY shares. Royal Bank of Canada lowered their price target on shares of Chewy from $35.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, March 22nd. Bank of America lowered their price target on shares of Chewy from $17.00 to $16.50 and set an "underperform" rating for the company in a research report on Thursday, March 21st. JMP Securities reaffirmed a "market outperform" rating and issued a $28.00 price target on shares of Chewy in a research report on Friday, March 15th. Mizuho started coverage on shares of Chewy in a research report on Tuesday, March 19th. They issued a "neutral" rating and a $18.00 price target for the company. Finally, Barclays raised shares of Chewy from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $19.00 to $30.00 in a research report on Thursday, January 11th. One 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $27.64.

Chewy Price Performance

The stock's fifty day simple moving average is $16.93 and its 200-day simple moving average is $18.75. The firm has a market cap of $7.68 billion, a PE ratio of 220.78, a PEG ratio of 9.06 and a beta of 0.90.

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

Insiders Place Their Bets

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

Institutional Trading of Chewy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Global Assets Advisory LLC acquired a new stake in Chewy during the first quarter valued at $2,253,000. Radnor Capital Management LLC grew its position in Chewy by 13.1% during the first quarter. Radnor Capital Management LLC now owns 30,220 shares of the company's stock valued at $481,000 after buying an additional 3,500 shares during the period. Newbridge Financial Services Group Inc. grew its position in Chewy by 93.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 10,230 shares of the company's stock valued at $242,000 after buying an additional 4,950 shares during the period. Vanguard Group Inc. grew its position in Chewy by 13.5% during the fourth quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company's stock valued at $226,959,000 after buying an additional 1,140,269 shares during the period. Finally, Employees Retirement System of Texas acquired a new stake in Chewy during the fourth quarter valued at $540,000. Institutional investors and hedge funds own 93.09% of the company's stock.

About Chewy

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 website www.chewy.com, as well as mobile applications.