Chewy, Inc. (NYSE:CHWY) Given Average Rating of “Moderate Buy” by Brokerages

Chewy, Inc. (NYSE:CHWY) has earned an average recommendation of “Moderate Buy” from the twenty-three research firms that are covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $34.15.

A number of research firms recently commented on CHWY. Robert W. Baird boosted their price target on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Raymond James cut Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Evercore ISI boosted their price target on Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Bank of America raised Chewy from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $24.00 to $40.00 in a research note on Wednesday, November 20th. Finally, Morgan Stanley lifted their price objective on Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th.

Chewy Stock Up 1.6 %

CHWY stock opened at $31.38 on Wednesday. Chewy has a twelve month low of $14.69 and a twelve month high of $39.10. The stock has a market cap of $13.12 billion, a P/E ratio of 34.48, a PEG ratio of 2.95 and a beta of 1.12. The business’s 50-day moving average price is $30.49 and its 200-day moving average price is $27.42.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the previous year, the firm earned ($0.08) EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts expect that Chewy will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Satish Mehta sold 8,056 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the transaction, the chief technology officer now owns 585,962 shares of the company’s stock, valued at approximately $19,612,148.14. The trade was a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,128,804 shares of company stock worth $827,019,626 in the last quarter. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chewy

Several hedge funds have recently made changes to their positions in CHWY. BC Partners Advisors L.P. purchased a new stake in shares of Chewy in the 2nd quarter worth $7,517,800,000. Marshall Wace LLP lifted its stake in shares of Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after purchasing an additional 2,636,526 shares during the last quarter. FMR LLC lifted its stake in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after purchasing an additional 2,497,689 shares during the last quarter. Fiera Capital Corp purchased a new stake in shares of Chewy during the 2nd quarter worth $44,373,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of Chewy during the 2nd quarter worth $40,798,000. 93.09% of the stock is currently owned by hedge funds and other 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.