Chewy (NYSE:CHWY) Trading 3.4% Higher

Chewy, Inc. (NYSE:CHWY) shares were up 3.4% during mid-day trading on Tuesday . The company traded as high as $17.19 and last traded at $17.13. Approximately 4,631,394 shares were traded during trading, a decline of 49% from the average daily volume of 9,114,896 shares. The stock had previously closed at $16.57.

Analyst Upgrades and Downgrades

Several brokerages have commented on CHWY. JPMorgan Chase & Co. cut their target price on Chewy from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Jefferies Financial Group decreased their price target on Chewy from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Bank of America cut their price objective on Chewy from $17.00 to $16.50 and set an “underperform” rating on the stock in a research report on Thursday, March 21st. Barclays upgraded Chewy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $19.00 to $30.00 in a research report on Thursday, January 11th. Finally, Piper Sandler dropped their price target on Chewy from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.64.

Chewy Price Performance

The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 207.09, a P/E/G ratio of 9.18 and a beta of 0.91. The business’s 50 day moving average is $16.92 and its 200 day moving average is $18.75.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.09. Chewy had a net margin of 0.33% and a return on equity of 11.69%. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. As a group, analysts forecast that Chewy, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Sumit Singh sold 192,642 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total transaction of $3,409,763.40. Following the completion of the sale, the chief executive officer now directly owns 1,307,025 shares of the company’s stock, valued at approximately $23,134,342.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Chewy news, CEO Sumit Singh sold 192,642 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total value of $3,409,763.40. Following the transaction, the chief executive officer now owns 1,307,025 shares in the company, valued at approximately $23,134,342.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stacy Bowman sold 8,025 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $124,628.25. Following the completion of the transaction, the chief accounting officer now owns 243,769 shares of the company’s stock, valued at approximately $3,785,732.57. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 250,169 shares of company stock worth $4,396,079. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Chewy

Hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. increased its stake in Chewy by 16.8% in the 4th 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 period. Massachusetts Financial Services Co. MA bought a new stake in Chewy in the 4th quarter valued at $42,223,000. Bank of New York Mellon Corp lifted its holdings in shares of Chewy by 101.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company’s stock worth $63,518,000 after acquiring an additional 1,751,131 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Chewy by 27.9% during the 4th quarter. Voya Investment Management LLC now owns 6,564,258 shares of the company’s stock worth $155,113,000 after acquiring an additional 1,430,897 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Chewy by 13.5% during the 4th quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock valued at $226,959,000 after purchasing an additional 1,140,269 shares during the last quarter. Hedge funds and other 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.