Chewy (NYSE:CHWY) Sees Large Volume Increase on Analyst Upgrade

Chewy, Inc. (NYSE:CHWY) shares saw unusually-strong trading volume on Friday after Guggenheim raised their price target on the stock from $25.00 to $32.00. Guggenheim currently has a buy rating on the stock. Approximately 9,236,869 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 10,199,326 shares.The stock last traded at $25.94 and had previously closed at $29.05.

Several other analysts have also commented on the stock. Jefferies Financial Group cut their target price on shares of Chewy from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Morgan Stanley increased their target price on shares of Chewy from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. increased their target price on shares of Chewy from $22.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Mizuho upped their price target on shares of Chewy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, June 10th. Finally, Wedbush upped their price target on shares of Chewy from $28.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

Insider Buying and Selling at Chewy

In other Chewy news, CEO Sumit Singh sold 46,090 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $696,880.80. Following the transaction, the chief executive officer now directly owns 1,379,100 shares in the company, valued at $20,851,992. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Chewy news, CAO Stacy Bowman sold 8,025 shares of the business’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 transaction, the chief accounting officer now directly owns 243,769 shares of the company’s stock, valued at $3,785,732.57. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sumit Singh sold 46,090 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total transaction of $696,880.80. Following the completion of the transaction, the chief executive officer now directly owns 1,379,100 shares of the company’s stock, valued at $20,851,992. The disclosure for this sale can be found here. Insiders have sold a total of 68,862 shares of company stock worth $1,047,242 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

A number of institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Chewy by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 667,247 shares of the company’s stock worth $15,767,000 after buying an additional 39,301 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Chewy during the fourth quarter worth approximately $339,000. Jump Financial LLC raised its stake in shares of Chewy by 356.6% during the fourth quarter. Jump Financial LLC now owns 164,569 shares of the company’s stock worth $3,889,000 after buying an additional 128,525 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Chewy by 347.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 79,265 shares of the company’s stock valued at $1,909,000 after purchasing an additional 61,556 shares during the period. Finally, Baillie Gifford & Co. grew its holdings in Chewy by 16.8% during the fourth quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock valued at $436,748,000 after purchasing an additional 2,654,376 shares during the period. 93.09% of the stock is owned by institutional investors.

Chewy Stock Down 10.2 %

The stock has a market cap of $11.35 billion, a price-to-earnings ratio of 146.06, a PEG ratio of 4.43 and a beta of 1.00. The stock’s fifty day moving average is $19.35 and its 200-day moving average is $18.87.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.11. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Chewy had a net margin of 0.73% and a return on equity of 16.62%. As a group, equities research analysts predict that Chewy, Inc. will post 0.22 earnings per share for the current fiscal year.

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.