Chewy (NYSE:CHWY) Sees Unusually-High Trading Volume

Chewy, Inc. (NYSE:CHWY) saw unusually-high trading volume on Friday . Approximately 75,030 shares changed hands during mid-day trading, a decline of 98% from the previous session’s volume of 3,482,052 shares.The stock last traded at $77.32 and had previously closed at $79.35.

CHWY has been the topic of a number of research analyst reports. Credit Suisse Group reiterated a “buy” rating and issued a $121.00 target price on shares of Chewy in a research report on Wednesday. Bank of America reiterated a “buy” rating and issued a $133.00 target price on shares of Chewy in a research report on Friday, April 16th. Morgan Stanley boosted their target price on Chewy from $76.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 31st. They noted that the move was a valuation call. Wedbush upped their price objective on Chewy from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, March 31st. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on Chewy in a research report on Monday, March 15th. They set a “neutral” rating and a $95.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $96.56.

The stock has a market capitalization of $31.63 billion, a P/E ratio of -345.00, a P/E/G ratio of 19.52 and a beta of 0.08. The stock has a 50 day moving average of $76.96.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, June 9th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.11. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the company earned ($0.12) EPS. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, sell-side analysts forecast that Chewy, Inc. will post 0.2 EPS for the current fiscal year.

In other Chewy news, insider Stacy Bowman sold 11,422 shares of the stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $87.00, for a total transaction of $993,714.00. Following the sale, the insider now owns 77,590 shares of the company’s stock, valued at approximately $6,750,330. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 6,150,000 shares of the stock in a transaction on Monday, April 12th. The shares were sold at an average price of $81.50, for a total value of $501,225,000.00. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Command Bank purchased a new stake in shares of Chewy during the 1st quarter valued at $25,000. Credit Agricole S A purchased a new stake in shares of Chewy during the 4th quarter valued at $26,000. Harbour Investments Inc. purchased a new stake in shares of Chewy during the 1st quarter valued at $26,000. Signaturefd LLC lifted its holdings in shares of Chewy by 243.7% during the 4th quarter. Signaturefd LLC now owns 299 shares of the company’s stock valued at $27,000 after purchasing an additional 212 shares during the last quarter. Finally, AGF Investments LLC purchased a new stake in shares of Chewy during the 4th quarter valued at $28,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Chewy Company Profile (NYSE:CHWY)

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company 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 chewy.com retail Website, as well as its mobile applications.

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