Chewy, Inc. (NYSE:CHWY) Receives $50.72 Average PT from Analysts

Chewy, Inc. (NYSE:CHWYGet Rating) has been given a consensus rating of “Hold” by the eighteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $50.72.

Several research analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Chewy from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, June 3rd. Citigroup cut their price target on Chewy from $45.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, June 2nd. Morgan Stanley decreased their price objective on Chewy from $62.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Friday, June 3rd. Wolfe Research boosted their target price on shares of Chewy from $32.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, June 2nd. Finally, Robert W. Baird reduced their target price on shares of Chewy from $60.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, June 2nd.

Insider Buying and Selling at Chewy

In other news, Director James A. Star acquired 181,478 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The stock was acquired at an average price of $27.44 per share, with a total value of $4,979,756.32. Following the completion of the transaction, the director now directly owns 325,987 shares of the company’s stock, valued at approximately $8,945,083.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director James A. Star acquired 181,478 shares of the stock in a transaction dated Monday, June 13th. The stock was bought at an average price of $27.44 per share, with a total value of $4,979,756.32. Following the completion of the purchase, the director now directly owns 325,987 shares of the company’s stock, valued at approximately $8,945,083.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James A. Star bought 36,127 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were acquired at an average price of $27.71 per share, for a total transaction of $1,001,079.17. Following the completion of the transaction, the director now owns 110,949 shares in the company, valued at $3,074,396.79. The disclosure for this purchase can be found here. Insiders sold 580,777 shares of company stock valued at $20,865,839 in the last quarter. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chewy

Several institutional investors and hedge funds have recently made changes to their positions in CHWY. Captrust Financial Advisors grew its holdings in Chewy by 47.6% during the 2nd quarter. Captrust Financial Advisors now owns 2,589 shares of the company’s stock worth $90,000 after acquiring an additional 835 shares during the period. Worldquant Millennium Advisors LLC bought a new stake in shares of Chewy during the 2nd quarter valued at about $8,242,000. Waratah Capital Advisors Ltd. acquired a new stake in Chewy during the second quarter worth approximately $1,024,000. Centiva Capital LP increased its stake in shares of Chewy by 1,233.0% in the 2nd quarter. Centiva Capital LP now owns 28,060 shares of the company’s stock valued at $974,000 after acquiring an additional 25,955 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new position in shares of Chewy during the 2nd quarter worth about $5,432,000.

Chewy Trading Down 4.7 %

CHWY stock opened at $45.99 on Friday. The company’s 50-day moving average price is $39.90 and its 200 day moving average price is $38.69. Chewy has a 52 week low of $22.22 and a 52 week high of $92.76. The company has a market cap of $19.34 billion, a P/E ratio of -199.96 and a beta of 0.39.

Chewy (NYSE:CHWYGet Rating) last posted its quarterly earnings results on Wednesday, June 1st. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.16. Chewy had a negative net margin of 1.02% and a negative return on equity of 175.48%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm earned $0.09 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, equities research analysts expect that Chewy will post -0.35 earnings per share for the current year.

About Chewy

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Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company 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 www.chewy.com retail Website, as well as its mobile applications.

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Analyst Recommendations for Chewy (NYSE:CHWY)

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