Chewy (NYSE:CHWY) Shares Down 5.2%

Chewy, Inc. (NYSE:CHWY) shares were down 5.2% during mid-day trading on Friday . The stock traded as low as $17.55 and last traded at $17.58. Approximately 1,264,786 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 9,017,289 shares. The stock had previously closed at $18.54.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CHWY shares. Mizuho started coverage on Chewy in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $18.00 target price on the stock. Barclays upgraded Chewy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $30.00 in a research note on Thursday, January 11th. Piper Sandler cut their target price on Chewy from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, March 21st. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of Chewy in a report on Thursday, March 21st. Finally, Wedbush reissued an “outperform” rating and issued a $25.00 price target on shares of Chewy in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.64.

Chewy Stock Down 4.9 %

The stock has a 50-day moving average of $16.93 and a 200 day moving average of $18.75. The stock has a market cap of $7.67 billion, a PE ratio of 220.53, a price-to-earnings-growth ratio of 9.65 and a beta of 0.90.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.09. Chewy had a return on equity of 11.69% and a net margin of 0.33%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. On average, equities analysts anticipate that Chewy, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other Chewy news, CEO Sumit Singh sold 192,642 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $3,409,763.40. Following the sale, the chief executive officer now owns 1,307,025 shares in the company, valued at approximately $23,134,342.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Chewy news, CEO Sumit Singh sold 192,642 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $3,409,763.40. Following the sale, the chief executive officer now owns 1,307,025 shares in the company, valued at approximately $23,134,342.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Stacy Bowman sold 8,025 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $124,628.25. Following the transaction, the chief accounting officer now owns 243,769 shares in the company, valued at approximately $3,785,732.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 250,169 shares of company stock worth $4,396,079. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CHWY. Baillie Gifford & Co. lifted its position in shares of Chewy by 16.8% during the 4th quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock valued at $436,748,000 after buying an additional 2,654,376 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Chewy in the 4th quarter valued at $42,223,000. Bank of New York Mellon Corp raised its stake in Chewy by 101.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company’s stock valued at $63,518,000 after purchasing an additional 1,751,131 shares during the last quarter. Voya Investment Management LLC raised its stake in Chewy by 27.9% in the 4th quarter. Voya Investment Management LLC now owns 6,564,258 shares of the company’s stock valued at $155,113,000 after purchasing an additional 1,430,897 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Chewy by 13.5% in the 4th quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock valued at $226,959,000 after purchasing an additional 1,140,269 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Company Profile

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 website www.chewy.com, as well as mobile applications.