Chewy, Inc. (NYSE:CHWY) CFO Sells $11,527,273.84 in Stock

Chewy, Inc. (NYSE:CHWY) CFO David Reeder sold 307,558 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $37.48, for a total transaction of $11,527,273.84. Following the transaction, the chief financial officer now owns 546,257 shares in the company, valued at approximately $20,473,712.36. The trade was a 36.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Chewy Stock Down 1.5 %

CHWY stock traded down $0.56 during mid-day trading on Tuesday, reaching $37.20. The company had a trading volume of 2,721,653 shares, compared to its average volume of 4,936,230. The stock has a market capitalization of $15.15 billion, a P/E ratio of 40.87, a P/E/G ratio of 2.32 and a beta of 1.10. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09. The stock’s 50-day simple moving average is $35.52 and its two-hundred day simple moving average is $31.10.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted ($0.08) earnings per share. On average, research analysts forecast that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CHWY. Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $24.00 to $42.00 in a report on Monday, January 6th. The Goldman Sachs Group raised their price target on shares of Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 5th. JMP Securities restated a “market outperform” rating and issued a $37.00 price target on shares of Chewy in a report on Monday, December 16th. Argus upgraded shares of Chewy from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Robert W. Baird raised their price target on shares of Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Chewy currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.80.

Institutional Investors Weigh In On Chewy

A number of hedge funds have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC bought a new stake in shares of Chewy during the fourth quarter valued at about $203,000. Corebridge Financial Inc. bought a new stake in shares of Chewy during the fourth quarter valued at about $6,208,000. Vanguard Group Inc. raised its stake in shares of Chewy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock valued at $485,093,000 after purchasing an additional 3,493,926 shares in the last quarter. LPL Financial LLC raised its stake in shares of Chewy by 0.6% during the fourth quarter. LPL Financial LLC now owns 120,669 shares of the company’s stock valued at $4,041,000 after purchasing an additional 771 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Chewy during the fourth quarter worth about $1,058,000. 93.09% of the stock is currently owned by 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.