Chewy (NYSE:CHWY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Chewy (NYSE:CHWY) have earned an average recommendation of “Moderate Buy” from the twenty-five analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $32.0476.

A number of research analysts have recently weighed in on CHWY shares. Moffett Nathanson set a $28.00 price target on Chewy in a research report on Thursday, June 11th. Weiss Ratings cut shares of Chewy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Guggenheim restated a “buy” rating and set a $45.00 target price on shares of Chewy in a report on Monday, April 27th. Morgan Stanley cut their target price on shares of Chewy from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, June 11th. Finally, UBS Group reduced their price target on shares of Chewy from $32.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, June 11th.

Chewy Price Performance

Shares of NYSE:CHWY opened at $21.19 on Thursday. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 35.32, a price-to-earnings-growth ratio of 1.03 and a beta of 1.45. The business’s 50 day simple moving average is $20.43 and its 200-day simple moving average is $25.18. Chewy has a 12 month low of $17.40 and a 12 month high of $43.50.

Insider Buying and Selling

In related news, General Counsel Da-Wai Hu sold 4,203 shares of Chewy stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $19.49, for a total transaction of $81,916.47. Following the completion of the transaction, the general counsel directly owned 4,103 shares in the company, valued at $79,967.47. The trade was a 50.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sumit Singh sold 83,306 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $25.60, for a total value of $2,132,633.60. Following the completion of the sale, the chief executive officer directly owned 874,061 shares in the company, valued at approximately $22,375,961.60. The trade was a 8.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 91,729 shares of company stock valued at $2,322,582. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Chewy

Several institutional investors and hedge funds have recently made changes to their positions in CHWY. National Bank of Canada FI raised its position in shares of Chewy by 12.5% in the 3rd quarter. National Bank of Canada FI now owns 2,910 shares of the company’s stock worth $118,000 after buying an additional 324 shares during the period. 180 Wealth Advisors LLC grew its position in Chewy by 4.4% during the fourth quarter. 180 Wealth Advisors LLC now owns 9,222 shares of the company’s stock valued at $305,000 after acquiring an additional 390 shares during the period. Dynasty Wealth Management LLC increased its stake in Chewy by 6.6% during the fourth quarter. Dynasty Wealth Management LLC now owns 6,321 shares of the company’s stock worth $209,000 after acquiring an additional 394 shares during the last quarter. Harbour Investments Inc. increased its stake in Chewy by 81.4% during the fourth quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock worth $30,000 after acquiring an additional 407 shares during the last quarter. Finally, waypoint wealth counsel raised its holdings in shares of Chewy by 3.8% in the 4th quarter. waypoint wealth counsel now owns 11,220 shares of the company’s stock worth $371,000 after purchasing an additional 415 shares during the period. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.