Chewy (NYSE:CHWY) CEO Sumit Singh Sells 23,002 Shares of Stock

Chewy (NYSE:CHWY) CEO Sumit Singh sold 23,002 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $21.40, for a total transaction of $492,242.80. Following the completion of the sale, the chief executive officer owned 899,118 shares of the company’s stock, valued at approximately $19,241,125.20. This trade represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sumit Singh also recently made the following trade(s):

• On Monday, November 2nd, Sumit Singh sold 3,228 shares of Chewy stock. The stock was sold at an average price of $21.40, for a total transaction of $69,079.20.

Chewy Stock Performance

Shares of CHWY stock opened at $23.36 on Thursday. The business’s fifty day simple moving average is $20.82 and its 200-day simple moving average is $23.20. The company has a market cap of $9.39 billion, a PE ratio of 33.92, a PEG ratio of 0.92 and a beta of 1.33. The company has a current ratio of 0.84, a quick ratio of 0.42 and a debt-to-equity ratio of 1.59. Chewy has a 12-month low of $17.40 and a 12-month high of $37.34.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.18 by $0.18. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.32 billion. Chewy had a return on equity of 60.88% and a net margin of 2.09%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 EPS. Analysts expect that Chewy will post 0.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CHWY shares. Mizuho lowered their price target on Chewy from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday, September 29th. Zacks Research upgraded Chewy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Morgan Stanley cut their price objective on shares of Chewy from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Thursday, September 10th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $28.00 price objective on shares of Chewy in a research report on Thursday, September 10th. Finally, UBS Group reiterated a “neutral” rating on shares of Chewy in a research note on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.45.

Hedge Funds Weigh In On Chewy

Several hedge funds have recently made changes to their positions in CHWY. Bank of America Corp DE boosted its holdings in shares of Chewy by 12.7% in the 1st quarter. Bank of America Corp DE now owns 4,816,924 shares of the company’s stock valued at $130,057,000 after acquiring an additional 542,298 shares during the last quarter. Van Berkom & Associates Inc. acquired a new stake in shares of Chewy in the third quarter worth $52,181,000. Dimensional Fund Advisors LP raised its holdings in shares of Chewy by 49.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,739,267 shares of the company’s stock worth $46,942,000 after purchasing an additional 578,801 shares during the last quarter. Amundi raised its holdings in shares of Chewy by 191.8% during the first quarter. Amundi now owns 1,466,126 shares of the company’s stock worth $39,584,000 after purchasing an additional 963,750 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Chewy by 0.5% during the first quarter. The Manufacturers Life Insurance Company now owns 839,927 shares of the company’s stock valued at $22,678,000 after purchasing an additional 3,942 shares during the period. 93.09% of the stock is owned by institutional investors and hedge funds.

About Chewy

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile platforms, the company sells pet food, treats, toys, supplies, and accessories for dogs, cats, fish, birds, reptiles, and other household pets.

Chewy also offers pet medications and veterinary-related products through its online pharmacy, as well as services such as Autoship subscriptions, which allow customers to schedule recurring deliveries. Its assortment includes national brands and private-label products, and the company emphasizes customer service, convenience, and personalized recommendations.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated as an online pet-food retailer before expanding into a broader pet-commerce platform.