Chewy (NYSE:CHWY) Sets New 52-Week High – Here’s What Happened

Shares of Chewy, Inc. (NYSE:CHWY) hit a new 52-week high on Friday . The company traded as high as $39.25 and last traded at $39.19, with a volume of 1437912 shares changing hands. The stock had previously closed at $38.00.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $39.00 price objective (up from $35.00) on shares of Chewy in a research report on Thursday, December 5th. JPMorgan Chase & Co. upped their price target on shares of Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $28.00 to $40.00 in a research report on Friday, November 8th. TD Cowen began coverage on Chewy in a report on Wednesday, October 9th. They set a “buy” rating and a $38.00 target price on the stock. Finally, Robert W. Baird boosted their price target on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Chewy Price Performance

The stock has a market cap of $15.98 billion, a price-to-earnings ratio of 43.13, a price-to-earnings-growth ratio of 4.16 and a beta of 1.10. The firm’s 50-day moving average is $34.48 and its 200 day moving average is $30.05.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the prior year, the firm posted ($0.08) EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, sell-side analysts forecast that Chewy, Inc. will post 0.24 EPS for the current year.

Insider Activity

In other news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $31.32, for a total value of $620,989,219.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sumit Singh sold 4,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $37.52, for a total transaction of $150,080.00. Following the sale, the chief executive officer now directly owns 518,581 shares of the company’s stock, valued at approximately $19,457,159.12. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,103,513 shares of company stock valued at $916,453,941 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

A number of large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in Chewy by 1.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock worth $661,000 after acquiring an additional 301 shares during the period. Blue Trust Inc. lifted its position in shares of Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after purchasing an additional 320 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after purchasing an additional 444 shares during the period. Washington Trust Advisors Inc. grew its holdings in Chewy by 0.3% during the 3rd quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock valued at $8,156,000 after purchasing an additional 923 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Chewy by 10.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock worth $308,000 after buying an additional 1,029 shares during the period. Institutional investors and hedge funds 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 websites and mobile applications.