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

Chewy, Inc. (NYSE:CHWY) has earned a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $36.80.

Several brokerages have weighed in on CHWY. Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $24.00 to $42.00 in a report on Monday, January 6th. Royal Bank of Canada upped their price target on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Morgan Stanley upped their price target on Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. BNP Paribas downgraded Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Finally, Piper Sandler upped their price target on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd.

Insiders Place Their Bets

In other Chewy news, CEO Sumit Singh sold 9,285 shares of Chewy stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $371,400.00. Following the transaction, the chief executive officer now directly owns 489,750 shares in the company, valued at approximately $19,590,000. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. Insiders have sold a total of 28,196,437 shares of company stock valued at $920,170,901 over the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of Chewy by 1.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock valued at $661,000 after purchasing an additional 301 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after buying an additional 444 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of Chewy by 30.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company’s stock valued at $94,000 after buying an additional 650 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Chewy by 52.0% in the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after buying an additional 650 shares in the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Trading Down 0.4 %

CHWY stock opened at $38.45 on Thursday. The company has a market capitalization of $15.66 billion, a PE ratio of 42.25, a P/E/G ratio of 4.36 and a beta of 1.10. Chewy has a 12-month low of $14.69 and a 12-month high of $40.09. The business’s fifty day moving average price is $35.15 and its 200 day moving average price is $30.73.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) EPS. Research analysts predict that Chewy will post 0.24 EPS 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.