Chewy (NYSE:CHWY) Stock Price Down 3.9%

Shares of Chewy, Inc. (NYSE:CHWY) were down 3.9% on Monday . The company traded as low as $25.64 and last traded at $25.67. Approximately 2,200,110 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 9,541,968 shares. The stock had previously closed at $26.70.

Analyst Ratings Changes

CHWY has been the subject of several recent research reports. Wedbush reiterated an “outperform” rating and set a $35.00 price target on shares of Chewy in a report on Thursday, August 8th. UBS Group upped their target price on shares of Chewy from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Guggenheim boosted their price target on shares of Chewy from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Morgan Stanley lifted their target price on shares of Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on Chewy from $22.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and an average target price of $27.90.

Chewy Price Performance

The firm has a market capitalization of $12.50 billion, a PE ratio of 159.56, a P/E/G ratio of 3.48 and a beta of 1.03. The business’s 50 day moving average is $25.50 and its two-hundred day moving average is $20.36.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, May 29th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. Chewy had a net margin of 0.73% and a return on equity of 16.62%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.85 billion. Analysts expect that Chewy, Inc. will post 0.23 EPS for the current fiscal year.

Insider Buying and Selling at Chewy

In related news, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the transaction, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at approximately $31,097,547.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the transaction, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total value of $40,576,103.84. The disclosure for this sale can be found here. Insiders have sold 18,906,141 shares of company stock worth $540,973,233 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Large investors have recently modified their holdings of the business. BC Partners Advisors L.P. bought a new stake in shares of Chewy in the 2nd quarter worth approximately $7,517,800,000. Marshall Wace LLP boosted its stake 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 in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Chewy in the fourth quarter worth about $42,223,000. Fiera Capital Corp purchased a new stake in Chewy in the second quarter worth about $44,373,000. Finally, Clearbridge Investments LLC bought a new stake in Chewy during the 2nd quarter valued at approximately $40,798,000. 93.09% of the stock is owned by institutional investors.

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.