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 research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, sixteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $30.64.

A number of analysts have recently weighed in on the company. Piper Sandler reiterated an “overweight” rating on shares of Chewy in a research report on Friday, August 21st. Royal Bank Of Canada decreased their price target on Chewy from $34.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, September 10th. Deutsche Bank Aktiengesellschaft dropped their price target on Chewy from $45.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, June 11th. Mizuho cut their price objective on shares of Chewy from $40.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, September 4th. Finally, Bank of America cut their price objective on shares of Chewy from $33.00 to $31.00 in a research report on Thursday, June 11th.

Chewy Price Performance

NYSE:CHWY opened at $18.30 on Tuesday. Chewy has a 52 week low of $17.40 and a 52 week high of $40.55. The firm has a market cap of $7.35 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 0.75 and a beta of 1.42. The firm’s 50-day simple moving average is $22.27 and its 200 day simple moving average is $22.64. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.42 and a current ratio of 0.84.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.18. Chewy had a net margin of 2.09% and a return on equity of 60.88%. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts predict that Chewy will post 0.77 earnings per share for the current year.

Insider Activity at Chewy

In other news, General Counsel Da-Wai Hu sold 4,203 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $19.49, for a total transaction of $81,916.47. Following the completion of the sale, the general counsel owned 4,103 shares of the company’s stock, valued at approximately $79,967.47. This represents a 50.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Chewy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Talon Private Wealth LLC lifted its position in shares of Chewy by 56.8% during the 2nd quarter. Talon Private Wealth LLC now owns 36,705 shares of the company’s stock worth $721,000 after buying an additional 13,300 shares during the last quarter. Tidal Investments LLC boosted its position in Chewy by 30.2% during the 2nd quarter. Tidal Investments LLC now owns 132,549 shares of the company’s stock worth $2,605,000 after buying an additional 30,729 shares during the period. IFP Advisors Inc grew its stake in shares of Chewy by 4.0% in the second quarter. IFP Advisors Inc now owns 13,307 shares of the company’s stock worth $261,000 after purchasing an additional 509 shares during the last quarter. Nykredit A S bought a new stake in shares of Chewy in the 2nd quarter valued at about $144,000. Finally, Corient Private Wealth LP increased its position in Chewy by 4.6% during the 2nd quarter. Corient Private Wealth LP now owns 94,239 shares of the company’s stock valued at $1,851,000 after purchasing an additional 4,183 shares during the period. 93.09% of the stock is currently owned by institutional investors.

About Chewy

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile applications, the company sells pet food, treats, supplies, toys, bedding, medications, and other products for dogs, cats, fish, birds, reptiles, and small pets.

Chewy supports recurring purchases through its Autoship program and provides access to prescription and over-the-counter pet medications through Chewy Pharmacy. The company also offers pet health-related services, including veterinary consultations in certain markets, and sells products under a range of national and private-label brands.