Chewy, Inc. (NYSE:CHWY – Get Free Report)’s stock price shot up 6.6% during mid-day trading on Monday . The company traded as high as $27.27 and last traded at $27.15. 16,842,359 shares traded hands during mid-day trading, an increase of 77% from the average session volume of 9,492,054 shares. The stock had previously closed at $25.47.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. JMP Securities reissued a “market outperform” rating and set a $28.00 target price on shares of Chewy in a research note on Friday, March 15th. Mizuho boosted their target price on shares of Chewy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, June 10th. The Goldman Sachs Group cut their price target on shares of Chewy from $36.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Citigroup lowered their target price on shares of Chewy from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Finally, Raymond James lifted their price target on shares of Chewy from $19.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Chewy has an average rating of “Moderate Buy” and a consensus price target of $26.31.
Chewy Stock Up 5.8 %
The firm has a market cap of $11.72 billion, a price-to-earnings ratio of 142.00, a PEG ratio of 4.22 and a beta of 1.00. The company has a 50 day moving average of $18.62 and a 200 day moving average of $18.67.
Chewy (NYSE:CHWY – Get Free Report) last posted its quarterly earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.11. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Chewy had a net margin of 0.73% and a return on equity of 16.62%. As a group, equities research analysts expect that Chewy, Inc. will post 0.2 earnings per share for the current fiscal year.
Insider Buying and Selling at Chewy
In other news, CEO Sumit Singh sold 46,090 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $696,880.80. Following the completion of the transaction, the chief executive officer now owns 1,379,100 shares of the company’s stock, valued at $20,851,992. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other 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 approximately $3,785,732.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sumit Singh sold 46,090 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $696,880.80. Following the completion of the sale, the chief executive officer now owns 1,379,100 shares of the company’s stock, valued at approximately $20,851,992. The disclosure for this sale can be found here. Insiders sold a total of 68,862 shares of company stock worth $1,047,242 over the last ninety days. Company insiders own 2.10% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Cetera Advisors LLC acquired a new position in Chewy in the 1st quarter worth approximately $334,000. Swedbank AB purchased a new position in shares of Chewy during the first quarter valued at $416,000. Virtu Financial LLC acquired a new position in Chewy during the first quarter valued at $388,000. California State Teachers Retirement System lifted its stake in Chewy by 2.2% in the 1st quarter. California State Teachers Retirement System now owns 108,448 shares of the company’s stock worth $1,725,000 after acquiring an additional 2,321 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in Chewy by 3.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock worth $451,000 after acquiring an additional 870 shares during the period. 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.