Chewy, Inc. (NYSE:CHWY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Chewy, Inc. (NYSE:CHWY) have been assigned an average rating of “Moderate Buy” from the twenty ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $27.50.

A number of research firms recently commented on CHWY. Royal Bank of Canada lowered their price target on Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. JMP Securities reiterated a “market outperform” rating and issued a $28.00 price target on shares of Chewy in a report on Friday, March 15th. Bank of America cut their price objective on Chewy from $17.00 to $16.50 and set an “underperform” rating for the company in a research report on Thursday, March 21st. Needham & Company LLC reissued a “buy” rating and set a $25.00 price target on shares of Chewy in a research note on Thursday, March 21st. Finally, Wedbush reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Chewy in a report on Thursday, March 21st.

Chewy Trading Down 0.4 %

Shares of NYSE:CHWY opened at $15.77 on Tuesday. Chewy has a 12-month low of $14.69 and a 12-month high of $40.78. The company has a market cap of $6.86 billion, a PE ratio of 197.13, a price-to-earnings-growth ratio of 8.25 and a beta of 0.90. The stock has a 50 day moving average of $16.68 and a 200 day moving average of $18.57.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Chewy had a net margin of 0.33% and a return on equity of 11.69%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Equities research analysts predict that Chewy will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 40,523 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $717,257.10. Following the transaction, the chief technology officer now owns 557,058 shares of the company’s stock, valued at approximately $9,859,926.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO Satish Mehta sold 40,523 shares of Chewy stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total transaction of $717,257.10. Following the completion of the sale, the chief technology officer now owns 557,058 shares of the company’s stock, valued at $9,859,926.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 6,728 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $104,485.84. Following the completion of the sale, the chief executive officer now directly owns 129,991 shares of the company’s stock, valued at approximately $2,018,760.23. The disclosure for this sale can be found here. In the last three months, insiders sold 250,169 shares of company stock valued at $4,396,079. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

A number of institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its position in shares of Chewy by 16.8% during the fourth quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock valued at $436,748,000 after buying an additional 2,654,376 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Chewy during the 4th quarter worth approximately $42,223,000. Bank of New York Mellon Corp lifted its position in Chewy by 101.4% during the third quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company’s stock valued at $63,518,000 after acquiring an additional 1,751,131 shares during the last quarter. Vanguard Group Inc. boosted its stake in Chewy by 13.5% in the fourth quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock valued at $226,959,000 after acquiring an additional 1,140,269 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in Chewy by 141.2% in the third quarter. Qube Research & Technologies Ltd now owns 1,188,823 shares of the company’s stock worth $21,708,000 after purchasing an additional 695,907 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.