Chewy, Inc. (NYSE:CHWY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Chewy, Inc. (NYSE:CHWY) have been assigned an average rating of “Moderate Buy” from the twenty-two ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $27.07.

A number of research analysts recently weighed in on CHWY shares. Piper Sandler lifted their target price on Chewy from $16.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. UBS Group boosted their price objective on Chewy from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Chewy from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Evercore ISI boosted their price objective on Chewy from $19.00 to $22.00 and gave the stock an “in-line” rating in a research note on Friday, May 31st. Finally, Morgan Stanley boosted their price objective on Chewy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th.

Chewy Trading Up 3.5 %

Shares of Chewy stock opened at $25.56 on Thursday. Chewy has a twelve month low of $14.69 and a twelve month high of $39.10. The stock has a market capitalization of $11.12 billion, a P/E ratio of 142.00, a PEG ratio of 3.48 and a beta of 1.03. The business’s fifty day moving average price is $24.89 and its 200 day moving average price is $19.77.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. Chewy had a return on equity of 16.62% and a net margin of 0.73%. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.85 billion. As a group, sell-side analysts predict that Chewy will post 0.23 EPS for the current year.

Insider Activity at Chewy

In related news, CTO Satish Mehta sold 2,894 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $64,362.56. Following the completion of the sale, the chief technology officer now directly owns 573,463 shares of the company’s stock, valued at $12,753,817.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the transaction, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Satish Mehta sold 2,894 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $64,362.56. Following the transaction, the chief technology officer now directly owns 573,463 shares of the company’s stock, valued at $12,753,817.12. The disclosure for this sale can be found here. Insiders sold a total of 18,906,141 shares of company stock valued at $540,973,233 over the last three months. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Chewy

Institutional investors have recently made changes to their positions in the stock. BC Partners Advisors L.P. acquired a new position in shares of Chewy during the second quarter worth approximately $7,517,800,000. Marshall Wace LLP boosted its position in shares of Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after buying an additional 2,636,526 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Chewy during the fourth quarter worth approximately $42,223,000. Fiera Capital Corp acquired a new position in shares of Chewy during the second quarter worth approximately $44,373,000. Finally, Baillie Gifford & Co. boosted its position in shares of Chewy by 7.2% during the first quarter. Baillie Gifford & Co. now owns 19,819,195 shares of the company’s stock worth $315,323,000 after buying an additional 1,336,431 shares during the period. 93.09% of the stock is owned by 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.