Chewy, Inc. (NYSE:CHWY) Receives $29.11 Average PT from Brokerages

Chewy, Inc. (NYSE:CHWY) has earned an average rating of “Moderate Buy” from the twenty-one ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $29.11.

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their price target on Chewy from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Barclays upped their price objective on Chewy from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Guggenheim upped their price objective on Chewy from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Wolfe Research assumed coverage on Chewy in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Royal Bank of Canada upped their price objective on Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th.

Chewy Trading Up 0.5 %

Shares of NYSE CHWY opened at $28.98 on Friday. Chewy has a twelve month low of $14.69 and a twelve month high of $39.10. The company has a market capitalization of $12.60 billion, a price-to-earnings ratio of 161.00, a price-to-earnings-growth ratio of 2.98 and a beta of 1.04. The business has a 50 day simple moving average of $27.26 and a 200-day simple moving average of $22.58.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. As a group, equities analysts predict that Chewy will post 0.32 earnings per share for the current year.

Insider Activity

In other news, CTO Satish Mehta sold 2,894 shares of the company’s stock in a transaction on 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 owns 573,463 shares in the company, valued at $12,753,817.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Satish Mehta sold 2,894 shares of the company’s stock in a transaction 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 sale, 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 26,888,627 shares of company stock worth $790,397,620 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chewy

Several hedge funds have recently modified their holdings of CHWY. BC Partners Advisors L.P. purchased a new stake in shares of Chewy during the second quarter valued at $7,517,800,000. Marshall Wace LLP lifted its holdings 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 valued at $78,801,000 after purchasing an additional 2,636,526 shares during the last quarter. Fiera Capital Corp purchased a new stake in shares of Chewy during the second quarter valued at $44,373,000. Clearbridge Investments LLC purchased a new stake in Chewy in the 2nd quarter worth about $40,798,000. Finally, Baillie Gifford & Co. lifted its stake in Chewy by 7.2% in the 1st quarter. Baillie Gifford & Co. now owns 19,819,195 shares of the company’s stock worth $315,323,000 after acquiring an additional 1,336,431 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

About Chewy

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.