Chewy (NYSE:CHWY) CAO William Billings Sells 17,283 Shares of Stock

Chewy (NYSE:CHWY) CAO William Billings sold 17,283 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $21.00, for a total transaction of $362,943.00. Following the completion of the sale, the chief accounting officer owned 39,772 shares of the company’s stock, valued at approximately $835,212. This represents a 30.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chewy Trading Down 1.6%

Chewy stock traded down $0.35 during mid-day trading on Friday, hitting $20.96. 7,678,945 shares of the company’s stock were exchanged, compared to its average volume of 9,395,786. The company’s 50 day simple moving average is $21.23 and its 200-day simple moving average is $22.01. The company has a quick ratio of 0.42, a current ratio of 0.84 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $8.43 billion, a P/E ratio of 31.76, a PEG ratio of 0.89 and a beta of 1.38. Chewy has a fifty-two week low of $17.40 and a fifty-two week high of $38.25.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, September 9th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.18. Chewy had a return on equity of 60.88% and a net margin of 2.09%. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts anticipate that Chewy will post 0.76 earnings per share for the current year.

Hedge Funds Weigh In On Chewy

Several hedge funds have recently made changes to their positions in CHWY. Parallel Advisors LLC raised its holdings in shares of Chewy by 106.8% in the first quarter. Parallel Advisors LLC now owns 1,584 shares of the company’s stock valued at $43,000 after purchasing an additional 818 shares during the last quarter. Root Financial Partners LLC boosted its holdings in Chewy by 137.0% during the first quarter. Root Financial Partners LLC now owns 2,969 shares of the company’s stock worth $80,000 after purchasing an additional 1,716 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its holdings in Chewy by 25.0% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,500 shares of the company’s stock worth $122,000 after purchasing an additional 900 shares during the last quarter. Globeflex Capital L P bought a new position in Chewy in the second quarter valued at $109,000. Finally, GAMMA Investing LLC grew its position in Chewy by 157.1% in the third quarter. GAMMA Investing LLC now owns 5,721 shares of the company’s stock valued at $104,000 after purchasing an additional 3,496 shares in the last quarter. 93.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CHWY. Raymond James Financial boosted their price objective on Chewy from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, September 4th. Citizens Jmp restated a “market outperform” rating and set a $28.00 target price on shares of Chewy in a report on Thursday, September 10th. The Goldman Sachs Group cut their price target on shares of Chewy from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, September 11th. Royal Bank Of Canada reduced their price target on shares of Chewy from $34.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, September 10th. Finally, Mizuho reduced their price target on shares of Chewy from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.45.

Chewy Company Profile

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

The company also offers prescription and over-the-counter medications through Chewy Pharmacy, as well as pet health products and related services. Its Autoship program allows customers to schedule recurring deliveries of regularly purchased items, while customer support and other digital features are designed to support pet owners throughout the pet-care lifecycle.

Chewy was founded in 2011 by Ryan Cohen and Michael Day and was acquired by PetSmart in 2017.