Insider Buying: Chewy, Inc. (NYSE:CHWY) Director Purchases 36,127 Shares of Stock

Posted by on Jun 8th, 2022

Chewy, Inc. (NYSE:CHWY – Get Rating) Director James A. Star purchased 36,127 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was bought at an average cost of $27.71 per share, with a total value of $1,001,079.17. Following the completion of the acquisition, the director now owns 110,949 shares of the company’s stock, valued at $3,074,396.79. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

CHWY traded up $0.37 during trading on Wednesday, hitting $28.99. 4,246,030 shares of the company’s stock were exchanged, compared to its average volume of 5,529,552. Chewy, Inc. has a 1 year low of $22.22 and a 1 year high of $97.74. The stock has a 50 day moving average price of $32.56 and a 200 day moving average price of $44.11. The firm has a market cap of $12.19 billion, a P/E ratio of -125.83 and a beta of 0.77.

Chewy (NYSE:CHWY – Get Rating) last posted its earnings results on Wednesday, June 1st. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.17. Chewy had a negative net margin of 1.02% and a negative return on equity of 175.48%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the business posted $0.09 EPS. The business’s quarterly revenue was up 13.7% on a year-over-year basis. Sell-side analysts forecast that Chewy, Inc. will post -0.35 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of CHWY. CWM LLC purchased a new position in shares of Chewy in the fourth quarter valued at $27,000. Franklin Resources Inc. lifted its holdings in Chewy by 0.3% in the 3rd quarter. Franklin Resources Inc. now owns 2,103,733 shares of the company’s stock worth $143,285,000 after buying an additional 5,575 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Chewy by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 673,900 shares of the company’s stock worth $39,741,000 after buying an additional 28,064 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Chewy by 103.3% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 28,932 shares of the company’s stock valued at $1,719,000 after buying an additional 14,700 shares during the last quarter. Finally, Brinker Capital Investments LLC grew its stake in shares of Chewy by 7.4% during the fourth quarter. Brinker Capital Investments LLC now owns 9,762 shares of the company’s stock valued at $576,000 after acquiring an additional 670 shares in the last quarter.

A number of analysts recently commented on CHWY shares. Evercore ISI lifted their price objective on Chewy to $58.00 in a research report on Friday, June 3rd. Wedbush cut their price objective on shares of Chewy to $30.00 in a research report on Friday, June 3rd. Morgan Stanley reduced their price objective on shares of Chewy from $62.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Friday, June 3rd. Barclays lifted their target price on shares of Chewy from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 2nd. Finally, Citigroup reduced their price target on Chewy from $45.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, June 2nd. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $61.86.

Chewy Company Profile (Get Rating)

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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