Chewy (NYSE:CHWY – Get Free Report)’s stock price dropped 8.7% during trading on Tuesday . The company traded as low as $20.03 and last traded at $19.7490. Approximately 7,775,030 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 8,136,091 shares. The stock had previously closed at $21.63.
Wall Street Analyst Weigh In
CHWY has been the topic of a number of recent analyst reports. BNP Paribas Exane reissued a “neutral” rating and issued a $28.00 price target (down from $38.00) on shares of Chewy in a research report on Thursday, March 26th. TD Cowen lifted their price target on shares of Chewy from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. The Goldman Sachs Group dropped their price target on shares of Chewy from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Barclays dropped their price target on shares of Chewy from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Finally, Morgan Stanley dropped their price objective on Chewy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and an average target price of $42.77.
Check Out Our Latest Report on Chewy
Chewy Stock Down 1.4%
Chewy (NYSE:CHWY – Get Free Report) last announced its earnings results on Wednesday, March 25th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.19). Chewy had a return on equity of 53.48% and a net margin of 1.77%.The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period last year, the firm posted $0.28 EPS. The company’s revenue was up .5% compared to the same quarter last year. As a group, analysts expect that Chewy will post 0.89 EPS for the current fiscal year.
Insider Activity
In other Chewy news, General Counsel Da-Wai Hu sold 8,149 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $26.91, for a total value of $219,289.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sumit Singh sold 83,306 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $25.60, for a total transaction of $2,132,633.60. Following the completion of the sale, the chief executive officer directly owned 874,061 shares in the company, valued at $22,375,961.60. This trade represents a 8.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 95,675 shares of company stock worth $2,459,955 over the last 90 days. Corporate insiders own 0.43% of the company’s stock.
Institutional Investors Weigh In On Chewy
Several institutional investors and hedge funds have recently bought and sold shares of CHWY. CoreCap Advisors LLC grew its stake in shares of Chewy by 306.3% in the 4th quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock valued at $28,000 after purchasing an additional 637 shares during the period. Harbour Investments Inc. grew its holdings in shares of Chewy by 81.4% in the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock worth $30,000 after purchasing an additional 407 shares during the last quarter. Osterweis Capital Management Inc. bought a new stake in shares of Chewy in the 2nd quarter worth about $30,000. Los Angeles Capital Management LLC bought a new stake in shares of Chewy in the 4th quarter worth about $31,000. Finally, Modus Advisors LLC acquired a new stake in Chewy during the 4th quarter valued at $34,000. Institutional investors own 93.09% of the company’s stock.
Chewy Company Profile
Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.
Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.
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