Chewy, Inc. (NYSE:CHWY) CFO David Reeder Sells 307,558 Shares

Chewy, Inc. (NYSE:CHWY - Get Free Report) CFO David Reeder sold 307,558 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $37.48, for a total value of $11,527,273.84. Following the completion of the sale, the chief financial officer now owns 546,257 shares in the company, valued at $20,473,712.36. The trade was a 36.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Chewy Stock Performance

Shares of NYSE CHWY traded down $0.34 during trading on Friday, hitting $37.64. The company had a trading volume of 3,049,857 shares, compared to its average volume of 4,211,366. The stock has a 50 day simple moving average of $35.93 and a 200 day simple moving average of $31.36. The firm has a market capitalization of $15.32 billion, a P/E ratio of 41.36, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09.

Chewy (NYSE:CHWY - Get Free Report) last issued its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.15. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. Chewy's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. As a group, analysts predict that Chewy, Inc. will post 0.24 EPS for the current year.

Institutional Trading of Chewy

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHWY. Wealth Enhancement Advisory Services LLC grew its holdings in Chewy by 1.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company's stock valued at $661,000 after buying an additional 301 shares in the last quarter. Blue Trust Inc. boosted 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 acquiring an additional 320 shares during the last quarter. Fifth Third Bancorp grew its stake in Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company's stock valued at $33,000 after acquiring an additional 444 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Chewy by 8.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company's stock valued at $189,000 after acquiring an additional 450 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its stake in Chewy by 30.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company's stock worth $94,000 after purchasing an additional 650 shares in the last quarter. Institutional investors own 93.09% of the company's stock.

Wall Street Analysts Forecast Growth

CHWY has been the topic of a number of recent analyst reports. Evercore ISI upgraded shares of Chewy from an "in-line" rating to an "outperform" rating and increased their price target for the company from $34.00 to $47.00 in a report on Monday, January 13th. Piper Sandler increased their target price on Chewy from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Monday, December 2nd. Morgan Stanley boosted their price target on Chewy from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a research report on Thursday, December 5th. Finally, Robert W. Baird boosted their target price on Chewy from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Monday, November 25th. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chewy has an average rating of "Moderate Buy" and a consensus price target of $36.80.

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.