Chewy (NYSE:CHWY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Chewy (NYSE:CHWY) have earned a consensus rating of “Moderate Buy” from the twenty-five analysts that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $32.0476.

Several brokerages recently commented on CHWY. Wolfe Research reaffirmed an “outperform” rating and set a $27.00 price target on shares of Chewy in a research report on Thursday, June 11th. TD Cowen reiterated a “buy” rating on shares of Chewy in a report on Tuesday, June 23rd. Argus raised Chewy to a “strong-buy” rating in a research report on Tuesday, April 7th. Barclays dropped their price target on Chewy from $40.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group reduced their price objective on Chewy from $46.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, June 12th.

Chewy Price Performance

Shares of CHWY stock opened at $22.59 on Monday. The firm’s 50-day simple moving average is $20.50 and its 200-day simple moving average is $24.26. Chewy has a 1-year low of $17.40 and a 1-year high of $43.50. The firm has a market cap of $9.25 billion, a P/E ratio of 37.65, a PEG ratio of 1.14 and a beta of 1.45.

Insider Transactions at Chewy

In related news, General Counsel Da-Wai Hu sold 4,203 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $19.49, for a total value of $81,916.47. Following the transaction, the general counsel owned 4,103 shares in the company, valued at approximately $79,967.47. This trade represents a 50.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Chewy

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in shares of Chewy by 295.9% during the 3rd quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock valued at $712,841,000 after buying an additional 13,171,325 shares during the last quarter. Viking Global Investors LP lifted its holdings in Chewy by 146.9% in the fourth quarter. Viking Global Investors LP now owns 13,536,645 shares of the company’s stock worth $447,386,000 after acquiring an additional 8,052,955 shares during the last quarter. AQR Capital Management LLC boosted its stake in Chewy by 120.2% in the third quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock valued at $407,948,000 after acquiring an additional 5,564,803 shares during the period. Norges Bank bought a new position in shares of Chewy during the fourth quarter valued at approximately $154,647,000. Finally, State Street Corp grew its holdings in shares of Chewy by 75.5% during the second quarter. State Street Corp now owns 6,170,197 shares of the company’s stock valued at $262,974,000 after purchasing an additional 2,654,496 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.