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

Shares of Chewy, Inc. (NYSE:CHWY) have been assigned an average rating of “Moderate Buy” from the twenty-three ratings firms that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $35.70.

A number of equities research analysts have recently commented on CHWY shares. Wolfe Research raised shares of Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Barclays lifted their price objective on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. TD Cowen started coverage on Chewy in a research note on Wednesday, October 9th. They set a “buy” rating and a $38.00 target price for the company. The Goldman Sachs Group boosted their price target on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, BNP Paribas downgraded shares of Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Satish Mehta sold 8,056 shares of the business’s stock in a transaction dated 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 trade represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,053,806 shares of company stock valued at $942,139,713 over the last ninety days. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chewy

Several hedge funds have recently modified their holdings of the company. BC Partners Advisors L.P. bought a new position in shares of Chewy in the second quarter valued at approximately $7,517,800,000. Marshall Wace LLP increased its position in shares of Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after purchasing an additional 2,636,526 shares during the last quarter. FMR LLC raised its stake in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after purchasing an additional 2,497,689 shares during the period. Clearbridge Investments LLC purchased a new position in shares of Chewy in the 2nd quarter worth about $40,798,000. Finally, Eagle Asset Management Inc. grew its position in Chewy by 97.9% during the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after buying an additional 975,647 shares during the period. Institutional investors own 93.09% of the company’s stock.

Chewy Stock Up 0.4 %

Shares of NYSE:CHWY opened at $36.34 on Friday. The business has a fifty day simple moving average of $33.29 and a 200 day simple moving average of $29.29. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10. The firm has a market cap of $14.80 billion, a P/E ratio of 39.93, a P/E/G ratio of 4.28 and a beta of 1.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the firm earned ($0.08) earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts expect that Chewy will post 0.24 EPS for the current year.

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.