Chewy (NYSE:CHWY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Chewy (NYSE:CHWY) has been assigned an average rating of “Moderate Buy” from the twenty-five brokerages that are currently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $43.39.

Several analysts have recently weighed in on CHWY shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $44.00 target price (up from $42.00) on shares of Chewy in a report on Thursday, June 12th. The Goldman Sachs Group boosted their target price on Chewy from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Mizuho downgraded Chewy from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $43.00 to $47.00 in a report on Monday, June 9th. Deutsche Bank Aktiengesellschaft set a $27.00 target price on Chewy and gave the company a “hold” rating in a report on Monday, April 14th. Finally, Citigroup reissued a “buy” rating and issued a $49.00 target price (up from $42.00) on shares of Chewy in a report on Thursday, June 12th.

Chewy Price Performance

Shares of NYSE CHWY opened at $41.17 on Friday. The company has a market capitalization of $17.09 billion, a price-to-earnings ratio of 46.26, a price-to-earnings-growth ratio of 8.62 and a beta of 1.71. The business has a 50-day moving average of $42.12 and a two-hundred day moving average of $37.65. Chewy has a 1 year low of $19.75 and a 1 year high of $48.62.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the business earned $0.31 EPS. Chewy’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts expect that Chewy will post 0.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO David Reeder sold 11,582 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $36.44, for a total transaction of $422,048.08. Following the sale, the chief financial officer owned 397,556 shares of the company’s stock, valued at $14,486,940.64. The trade was a 2.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sumit Singh sold 148,063 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.67, for a total value of $6,021,722.21. Following the sale, the chief executive officer directly owned 705,252 shares in the company, valued at $28,682,598.84. This trade represents a 17.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,167,614 shares of company stock worth $1,259,102,436. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Chewy

Several institutional investors have recently modified their holdings of CHWY. BC Partners PE LP purchased a new stake in shares of Chewy during the 1st quarter worth approximately $7,142,402,000. Vanguard Group Inc. boosted its stake in shares of Chewy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock worth $485,093,000 after acquiring an additional 3,493,926 shares in the last quarter. Durable Capital Partners LP purchased a new stake in shares of Chewy during the 4th quarter worth approximately $79,050,000. Invesco Ltd. boosted its stake in shares of Chewy by 4,577.5% during the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock worth $73,381,000 after acquiring an additional 2,144,302 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Chewy during the 4th quarter worth approximately $69,789,000. 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.