Chewy, Inc. (NYSE:CHWY) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Chewy, Inc. (NYSE:CHWY) have earned a consensus recommendation of “Moderate Buy” from the twenty analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $27.50.

A number of analysts have weighed in on the stock. Mizuho initiated coverage on shares of Chewy in a research note on Tuesday, March 19th. They set a “neutral” rating and a $18.00 target price on the stock. The Goldman Sachs Group dropped their target price on Chewy from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. Bank of America lowered their price objective on Chewy from $17.00 to $16.50 and set an “underperform” rating for the company in a research note on Thursday, March 21st. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of Chewy in a research note on Thursday, March 21st. Finally, Piper Sandler reduced their target price on Chewy from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, April 23rd.

Chewy Price Performance

Shares of CHWY opened at $15.77 on Tuesday. The firm has a 50 day simple moving average of $16.68 and a two-hundred day simple moving average of $18.57. The company has a market cap of $6.86 billion, a P/E ratio of 197.13, a P/E/G ratio of 8.25 and a beta of 0.90. Chewy has a one year low of $14.69 and a one year high of $40.78.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.09. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. Chewy had a return on equity of 11.69% and a net margin of 0.33%. On average, analysts expect that Chewy will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Stacy Bowman sold 8,025 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $124,628.25. Following the transaction, the chief accounting officer now 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 SEC, which is available through this hyperlink. In other Chewy news, CAO Stacy Bowman sold 8,025 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were 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 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, CEO Sumit Singh sold 192,642 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $3,409,763.40. Following the completion of the transaction, the chief executive officer now owns 1,307,025 shares in the company, valued at approximately $23,134,342.50. The disclosure for this sale can be found here. Insiders sold 250,169 shares of company stock worth $4,396,079 over the last three months. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chewy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CenterBook Partners LP purchased a new stake in Chewy during the third quarter valued at about $573,000. Rafferty Asset Management LLC increased its position in shares of Chewy by 29.9% in the third quarter. Rafferty Asset Management LLC now owns 19,677 shares of the company’s stock worth $359,000 after purchasing an additional 4,524 shares during the last quarter. Platinum Investment Management Ltd. bought a new stake in Chewy during the third quarter valued at approximately $1,230,000. Victory Capital Management Inc. lifted its holdings in shares of Chewy by 364.2% during the 3rd quarter. Victory Capital Management Inc. now owns 57,662 shares of the company’s stock worth $1,053,000 after acquiring an additional 45,240 shares during the last quarter. Finally, Marathon Trading Investment Management LLC bought a new stake in Chewy during the third quarter worth about $1,076,000. 93.09% of the stock is 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.