Chewy, Inc. (NYSE:CHWY) Receives Average Recommendation of “Moderate Buy” from Analysts

Chewy, Inc. (NYSE:CHWY) has received an average rating of “Moderate Buy” from the twenty-three brokerages that are presently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $34.15.

CHWY has been the topic of several recent analyst reports. TD Cowen initiated coverage on Chewy in a research report on Wednesday, October 9th. They set a “buy” rating and a $38.00 target price on the stock. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft upped their target price on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research report on Thursday, December 5th. Finally, UBS Group increased their price objective on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd.

Chewy Price Performance

Shares of NYSE CHWY opened at $31.38 on Wednesday. The stock has a market capitalization of $13.12 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.95 and a beta of 1.12. Chewy has a 1-year low of $14.69 and a 1-year high of $39.10. The business has a fifty day moving average price of $30.49 and a 200 day moving average price of $27.42.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same period in the prior year, the company posted ($0.08) EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Chewy will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 8,056 shares of the 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 transaction, the chief technology officer now owns 585,962 shares in the company, valued at approximately $19,612,148.14. This represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the 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 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 ninety days. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

A number of hedge funds have recently bought and sold shares of CHWY. BC Partners Advisors L.P. purchased a new position in shares of Chewy in the second quarter valued at approximately $7,517,800,000. Marshall Wace LLP lifted its position in shares of Chewy by 1,028.6% in the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after acquiring an additional 2,636,526 shares in the last quarter. FMR LLC lifted its position in shares of Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after acquiring an additional 2,497,689 shares in the last quarter. Fiera Capital Corp purchased a new position in shares of Chewy in the second quarter valued at approximately $44,373,000. Finally, Clearbridge Investments LLC purchased a new position in shares of Chewy in the second quarter valued at approximately $40,798,000. Hedge funds and other 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.