Chewy (NYSE:CHWY) Shares Up 4.1% – Time to Buy?

Chewy, Inc. (NYSE:CHWY) rose 4.1% during mid-day trading on Tuesday . The company traded as high as $32.28 and last traded at $32.16. Approximately 993,113 shares changed hands during trading, a decline of 88% from the average daily volume of 8,574,990 shares. The stock had previously closed at $30.89.

Analyst Ratings Changes

CHWY has been the subject of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and set a $39.00 price target (up from $35.00) on shares of Chewy in a research report on Thursday, December 5th. TD Cowen assumed coverage on shares of Chewy in a report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price on the stock. Evercore ISI raised their target price on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. raised their price objective on shares of Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Morgan Stanley raised their target price on shares of Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.15.

Chewy Stock Performance

The firm has a 50 day moving average price of $30.49 and a two-hundred day moving average price of $27.42. The company has a market capitalization of $13.17 billion, a P/E ratio of 33.96, a price-to-earnings-growth ratio of 2.95 and a beta of 1.12.

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, topping the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the prior year, the business earned ($0.08) EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts expect that Chewy, Inc. will post 0.34 earnings per share for the current year.

Insider Transactions at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy 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 document filed with the SEC, which can be accessed through this link. Also, CTO Satish Mehta sold 8,056 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total transaction of $269,634.32. Following the completion of the transaction, the chief technology officer now owns 585,962 shares in the company, valued at $19,612,148.14. This trade represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,128,804 shares of company stock valued at $827,019,626 over the last 90 days. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chewy

A number of hedge funds have recently bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new position in Chewy during the second quarter worth $33,000. Blue Trust Inc. grew its holdings in shares of Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after buying an additional 905 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in shares of Chewy during the second quarter worth about $44,000. First Horizon Advisors Inc. bought a new stake in Chewy during the 2nd quarter worth approximately $48,000. Finally, Planning Capital Management Corp purchased a new stake in shares of Chewy in the third quarter worth approximately $52,000. 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.