Chewy (NYSE:CHWY) Shares Down 4% – What’s Next?

Chewy, Inc. (NYSE:CHWY) shares were down 4% during trading on Friday . The company traded as low as $33.37 and last traded at $34.45. Approximately 1,870,606 shares changed hands during trading, a decline of 78% from the average daily volume of 8,681,854 shares. The stock had previously closed at $35.87.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CHWY. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $24.00 to $40.00 in a research report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research note on Wednesday, October 23rd. Evercore ISI raised their price objective on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. increased their target price on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Raymond James downgraded shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Chewy has an average rating of “Moderate Buy” and an average price target of $31.65.

Chewy Stock Performance

The business has a 50-day simple moving average of $29.85 and a 200 day simple moving average of $25.85. The firm has a market cap of $14.46 billion, a P/E ratio of 41.11, a price-to-earnings-growth ratio of 3.29 and a beta of 1.06.

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

Insider Buying and Selling at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

A number of large investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC increased its position in shares of Chewy by 18.0% during the 1st quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after purchasing an additional 619 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Chewy by 3.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock valued at $451,000 after purchasing an additional 870 shares during the last quarter. Blue Trust Inc. increased its position in shares of Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after purchasing an additional 905 shares during the last quarter. Washington Trust Advisors Inc. increased its position in shares of Chewy by 0.3% during the 3rd quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock valued at $8,156,000 after purchasing an additional 923 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Chewy by 10.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock valued at $308,000 after purchasing an additional 1,029 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.

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.