Chewy (NYSE:CHWY) Hits New 12-Month High – Here’s Why

Shares of Chewy, Inc. (NYSE:CHWY) reached a new 52-week high on Friday . The stock traded as high as $39.25 and last traded at $39.19, with a volume of 1437912 shares. The stock had previously closed at $38.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CHWY shares. Citigroup raised shares of Chewy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $28.00 to $40.00 in a report on Friday, November 8th. Piper Sandler lifted their price target on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. JMP Securities reissued a “market outperform” rating and set a $37.00 price objective on shares of Chewy in a report on Monday, December 16th. Wedbush restated an “outperform” rating and set a $39.00 price objective (up previously from $35.00) on shares of Chewy in a research report on Thursday, December 5th. Finally, Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $24.00 to $42.00 in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Chewy Trading Up 3.3 %

The stock has a market capitalization of $15.98 billion, a PE ratio of 43.12, a PEG ratio of 4.16 and a beta of 1.10. The business’s 50 day moving average is $34.33 and its 200 day moving average is $29.95.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. Chewy’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS. As a group, analysts anticipate that Chewy, Inc. will post 0.24 EPS for the current year.

Insider Activity

In other Chewy news, CTO Satish Mehta sold 8,056 shares of Chewy stock in a transaction 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 sale, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at $19,612,148.14. The trade was a 1.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sumit Singh sold 71,161 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $32.50, for a total value of $2,312,732.50. Following the completion of the sale, the chief executive officer now owns 77,838 shares of the company’s stock, valued at $2,529,735. This represents a 47.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,090,041 shares of company stock valued at $915,948,068. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Oak Harvest Investment Services purchased a new stake in shares of Chewy during the fourth quarter valued at about $2,245,000. Legacy Trust grew its holdings in Chewy by 9.9% in the fourth quarter. Legacy Trust now owns 128,023 shares of the company’s stock worth $4,287,000 after purchasing an additional 11,495 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Chewy by 14.4% during the fourth quarter. Hantz Financial Services Inc. now owns 14,515 shares of the company’s stock worth $486,000 after purchasing an additional 1,824 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Chewy during the 4th quarter valued at $716,000. Finally, KBC Group NV boosted its position in shares of Chewy by 86.9% in the 4th quarter. KBC Group NV now owns 7,471 shares of the company’s stock worth $250,000 after purchasing an additional 3,474 shares in the last quarter. 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.