Chewy (CHWY) – What Are Researchers Saying About This Stock?

Chewy (NYSE:CHWY) has earned an average rating of “Moderate Buy” from the twenty-five brokerages that are currently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $30.45.

CHWY has been the topic of several research reports. Citigroup reaffirmed a “market outperform” rating on shares of Chewy in a report on Thursday, September 10th. TD Cowen lowered their target price on Chewy from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, September 10th. Robert W. Baird dropped their target price on Chewy from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Thursday, September 10th. Mizuho decreased their price target on Chewy from $32.00 to $28.00 and set an “outperform” rating on the stock in a report on Tuesday, September 29th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Chewy in a report on Friday, August 21st.

Chewy Trading Down 1.2%

CHWY opened at $22.78 on Wednesday. Chewy has a 1-year low of $17.40 and a 1-year high of $37.34. The stock has a market capitalization of $9.16 billion, a PE ratio of 34.52, a PEG ratio of 0.96 and a beta of 1.33. The company has a current ratio of 0.84, a quick ratio of 0.42 and a debt-to-equity ratio of 1.59. The firm has a 50-day moving average price of $20.79 and a two-hundred day moving average price of $23.00.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, September 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.18. Chewy had a net margin of 2.09% and a return on equity of 60.88%. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period in the prior year, the business earned $0.33 earnings per share. Chewy’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities analysts anticipate that Chewy will post 0.76 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sumit Singh sold 23,002 shares of Chewy stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $21.40, for a total transaction of $492,242.80. Following the completion of the sale, the chief executive officer owned 899,118 shares in the company, valued at $19,241,125.20. The trade was a 2.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO William G. Billings sold 17,283 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $21.00, for a total transaction of $362,943.00. Following the sale, the chief accounting officer directly owned 39,772 shares of the company’s stock, valued at approximately $835,212. This trade represents a 30.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 48,328 shares of company stock worth $1,035,010 in the last ninety days. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Chewy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its position in shares of Chewy by 12.7% during the 1st quarter. Bank of America Corp DE now owns 4,816,924 shares of the company’s stock valued at $130,057,000 after acquiring an additional 542,298 shares during the last quarter. Van Berkom & Associates Inc. acquired a new stake in shares of Chewy during the third quarter worth $52,181,000. Dimensional Fund Advisors LP increased its holdings in Chewy by 49.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,739,267 shares of the company’s stock valued at $46,942,000 after purchasing an additional 578,801 shares during the last quarter. Amundi increased its holdings in Chewy by 191.8% in the first quarter. Amundi now owns 1,466,126 shares of the company’s stock valued at $39,584,000 after purchasing an additional 963,750 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in Chewy by 142.4% in the third quarter. Royce & Associates LP now owns 948,048 shares of the company’s stock valued at $17,254,000 after purchasing an additional 556,971 shares during the last quarter. 93.09% of the stock is owned by institutional investors.

About Chewy

Chewy, Inc. is an online retailer focused on pet food, supplies and related services. Through its website and mobile app, the company sells products for dogs, cats and other pets, including food, treats, toys, bedding and grooming supplies. Chewy also offers pet medications and health products through Chewy Pharmacy, along with services such as veterinary care. Its business combines product sales with services designed to support pet owners throughout their pets’ lives. Founded in 2011, Chewy primarily serves customers in the United States.