Chewy (NYSE:CHWY) Shares Up 6.6%

Chewy, Inc. (NYSE:CHWY)’s share price was up 6.6% on Monday . The company traded as high as $27.27 and last traded at $27.15. Approximately 16,842,359 shares were traded during mid-day trading, an increase of 77% from the average daily volume of 9,492,054 shares. The stock had previously closed at $25.47.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC increased their price target on shares of Chewy from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. UBS Group boosted their price target on shares of Chewy from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Raymond James lifted their price objective on Chewy from $19.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. JMP Securities reaffirmed a “market outperform” rating and issued a $28.00 price target on shares of Chewy in a report on Friday, March 15th. Finally, Jefferies Financial Group dropped their price target on Chewy from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Chewy has a consensus rating of “Moderate Buy” and an average target price of $26.31.

Chewy Stock Performance

The firm has a 50-day moving average price of $19.10 and a 200-day moving average price of $18.80. The stock has a market cap of $12.68 billion, a PE ratio of 160.50, a price-to-earnings-growth ratio of 4.97 and a beta of 1.00.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. As a group, sell-side analysts anticipate that Chewy, Inc. will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling at Chewy

In related news, CAO Stacy Bowman sold 8,025 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $124,628.25. Following the transaction, the chief accounting officer now owns 243,769 shares of the company’s stock, valued at $3,785,732.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Stacy Bowman sold 8,025 shares of Chewy stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $124,628.25. Following the transaction, the chief accounting officer now directly owns 243,769 shares in the company, valued at $3,785,732.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Satish Mehta sold 8,019 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $121,247.28. Following the sale, the chief technology officer now directly owns 569,594 shares of the company’s stock, valued at approximately $8,612,261.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,862 shares of company stock valued at $1,047,242. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Headinvest LLC purchased a new position in Chewy during the third quarter valued at $39,000. Quest Partners LLC bought a new stake in shares of Chewy in the fourth quarter worth about $65,000. Signaturefd LLC increased its holdings in shares of Chewy by 37.8% in the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after purchasing an additional 922 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Chewy by 15.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock valued at $95,000 after buying an additional 543 shares during the last quarter. Finally, EntryPoint Capital LLC grew its holdings in Chewy by 18.0% during the 1st quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after buying an additional 619 shares in 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.