Chewy, Inc. (NYSE:CHWY) – Research analysts at Jefferies Financial Group raised their FY2022 earnings per share estimates for Chewy in a research report issued on Wednesday, June 9th. Jefferies Financial Group analyst S. Wissink now anticipates that the company will post earnings of $0.05 per share for the year, up from their previous estimate of $0.04. Jefferies Financial Group currently has a “Buy” rating and a $105.00 target price on the stock. Jefferies Financial Group also issued estimates for Chewy’s FY2023 earnings at $0.35 EPS and FY2025 earnings at $0.92 EPS.
CHWY has been the topic of several other reports. Citigroup started coverage on shares of Chewy in a report on Tuesday, March 9th. They set a “neutral” rating and a $95.00 price target on the stock. Bank of America restated a “buy” rating and set a $133.00 price objective on shares of Chewy in a report on Friday, April 16th. Wedbush increased their target price on Chewy from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 31st. Zacks Investment Research lowered shares of Chewy from a “buy” rating to a “hold” rating in a research note on Wednesday, June 2nd. Finally, Piper Sandler restated an “overweight” rating and issued a $110.00 price target (down from $125.00) on shares of Chewy in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $96.56.
Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, June 9th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.11. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the business earned ($0.12) earnings per share. Chewy’s revenue for the quarter was up 31.7% on a year-over-year basis.
In other Chewy news, major shareholder Argos Holdings Gp Llc sold 6,150,000 shares of the firm’s stock in a transaction that occurred on Monday, April 12th. The shares were sold at an average price of $81.50, for a total value of $501,225,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stacy Bowman sold 11,422 shares of Chewy stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $87.00, for a total transaction of $993,714.00. Following the completion of the transaction, the insider now directly owns 77,590 shares in the company, valued at $6,750,330. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.
Several institutional investors have recently bought and sold shares of CHWY. Ensign Peak Advisors Inc increased its position in Chewy by 3.1% during the 1st quarter. Ensign Peak Advisors Inc now owns 5,134 shares of the company’s stock valued at $435,000 after buying an additional 153 shares in the last quarter. First Manhattan Co. increased its holdings in shares of Chewy by 35.0% during the first quarter. First Manhattan Co. now owns 675 shares of the company’s stock valued at $57,000 after acquiring an additional 175 shares in the last quarter. Signaturefd LLC raised its position in shares of Chewy by 243.7% in the 4th quarter. Signaturefd LLC now owns 299 shares of the company’s stock valued at $27,000 after purchasing an additional 212 shares during the last quarter. Parallel Advisors LLC boosted its stake in Chewy by 33.0% in the 1st quarter. Parallel Advisors LLC now owns 926 shares of the company’s stock worth $78,000 after purchasing an additional 230 shares in the last quarter. Finally, MTM Investment Management LLC grew its position in Chewy by 5.4% during the 1st quarter. MTM Investment Management LLC now owns 5,325 shares of the company’s stock worth $451,000 after purchasing an additional 275 shares during the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.
Chewy Company Profile
Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company 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 chewy.com retail Website, as well as its mobile applications.
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