Chewy (NYSE:CHWY) Shares Up 11.4%

Chewy, Inc. (NYSE:CHWYGet Rating)’s stock price shot up 11.4% during trading on Tuesday . The stock traded as high as $31.98 and last traded at $31.98. 39,275 shares changed hands during trading, a decline of 100% from the average session volume of 8,390,102 shares. The stock had previously closed at $28.70.

Several brokerages have commented on CHWY. UBS Group dropped their price target on Chewy from $42.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, May 31st. Deutsche Bank Aktiengesellschaft dropped their price target on Chewy from $55.00 to $35.00 in a research note on Wednesday, May 25th. Morgan Stanley dropped their price target on Chewy from $62.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday, June 3rd. Wells Fargo & Company dropped their price target on Chewy from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, June 3rd. Finally, Jefferies Financial Group lowered their target price on Chewy from $90.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, March 30th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $55.32.

The business has a 50 day simple moving average of $29.96 and a two-hundred day simple moving average of $41.54. The stock has a market cap of $13.72 billion, a price-to-earnings ratio of -139.04 and a beta of 0.77.

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

In other news, Director James A. Star bought 36,127 shares of Chewy stock in a transaction on Monday, June 6th. The shares were bought at an average price of $27.71 per share, with a total value of $1,001,079.17. Following the acquisition, the director now directly owns 110,949 shares in the company, valued at approximately $3,074,396.79. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James A. Star bought 181,478 shares of Chewy stock in a transaction on Monday, June 13th. The shares were purchased at an average cost of $27.44 per share, for a total transaction of $4,979,756.32. Following the acquisition, the director now owns 325,987 shares in the company, valued at $8,945,083.28. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 351,369 shares of company stock worth $9,550,209. 1.80% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CHWY. Baillie Gifford & Co. lifted its holdings in shares of Chewy by 69.5% in the 4th quarter. Baillie Gifford & Co. now owns 13,302,667 shares of the company’s stock worth $784,458,000 after purchasing an additional 5,455,428 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Chewy by 426.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,496,886 shares of the company’s stock worth $170,062,000 after purchasing an additional 2,023,038 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of Chewy by 7.8% in the 1st quarter. Brown Advisory Inc. now owns 7,622,982 shares of the company’s stock worth $326,977,000 after purchasing an additional 552,115 shares during the last quarter. Element Capital Management LLC bought a new stake in shares of Chewy in the 4th quarter worth approximately $20,150,000. Finally, Bank of Montreal Can lifted its holdings in shares of Chewy by 3,158.3% in the 4th quarter. Bank of Montreal Can now owns 266,168 shares of the company’s stock worth $15,853,000 after purchasing an additional 257,999 shares during the last quarter.

Chewy Company Profile (NYSE:CHWY)

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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