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

Chewy, Inc. (NYSE:CHWY) has been assigned an average rating of “Moderate Buy” from the twenty-three analysts that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $36.80.

A number of equities analysts recently issued reports on CHWY shares. Morgan Stanley boosted their target price on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Robert W. Baird increased their target price on shares of Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. boosted their price target on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd.

Chewy Price Performance

Chewy stock opened at $38.86 on Thursday. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $39.62. The firm has a fifty day moving average price of $34.74 and a two-hundred day moving average price of $30.29. The firm has a market cap of $15.82 billion, a price-to-earnings ratio of 42.70, a P/E/G ratio of 4.16 and a beta of 1.10.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.15. The firm had revenue of $2.89 billion during 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 firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) EPS. As a group, sell-side analysts expect that Chewy will post 0.24 earnings per share for the current year.

Insider Activity

In other Chewy news, CTO Satish Mehta sold 8,056 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the sale, the chief technology officer now owns 585,962 shares in the company, valued at approximately $19,612,148.14. This trade represents a 1.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 114,130 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $37.70, for a total transaction of $4,302,701.00. Following the completion of the transaction, the chief executive officer now directly owns 529,809 shares of the company’s stock, valued at approximately $19,973,799.30. This represents a 17.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,103,513 shares of company stock worth $916,453,941. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CHWY. FMR LLC boosted its position in Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after buying an additional 2,497,689 shares during the last quarter. Clearbridge Investments LLC bought a new position in Chewy in the second quarter valued at about $40,798,000. Eagle Asset Management Inc. increased its position in Chewy by 97.9% in the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after purchasing an additional 975,647 shares during the period. AMI Asset Management Corp bought a new stake in Chewy during the 3rd quarter worth about $17,756,000. Finally, Quadrature Capital Ltd acquired a new position in Chewy during the 3rd quarter valued at about $13,699,000. Institutional investors own 93.09% of the company’s stock.

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.