Chewy, Inc. (NYSE:CHWY) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of Chewy, Inc. (NYSE:CHWY - Get Free Report) have received an average recommendation of "Moderate Buy" from the twenty-two ratings firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $37.95.

A number of equities research analysts have recently commented on the company. Robert W. Baird lifted their target price on Chewy from $35.00 to $40.00 and gave the stock an "outperform" rating in a research note on Monday, November 25th. BNP Paribas downgraded Chewy from an "outperform" rating to a "neutral" rating in a research report on Thursday, December 5th. UBS Group upped their price target on Chewy from $30.00 to $34.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Morgan Stanley lifted their price objective on Chewy from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Finally, Piper Sandler boosted their price target on shares of Chewy from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Monday, December 2nd.

Chewy Stock Up 0.4 %

NYSE:CHWY traded up $0.15 during trading hours on Friday, hitting $34.01. 5,936,060 shares of the company traded hands, compared to its average volume of 7,475,303. The firm's 50-day simple moving average is $36.22 and its 200-day simple moving average is $33.08. Chewy has a one year low of $14.69 and a one year high of $40.09. The company has a market cap of $13.85 billion, a PE ratio of 37.37, a PEG ratio of 2.21 and a beta of 1.23.

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Insider Activity at Chewy

In related news, CEO Sumit Singh sold 71,161 shares of Chewy stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $35.00, for a total transaction of $2,490,635.00. Following the completion of the transaction, the chief executive officer now directly owns 6,677 shares of the company's stock, valued at $233,695. This trade represents a 91.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the completion of the sale, the chief technology officer now owns 262,853 shares in the company, valued at approximately $9,357,566.80. This trade represents a 21.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,726,333 shares of company stock worth $312,843,856 in the last 90 days. Company insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Chewy

Hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in shares of Chewy by 78.3% in the third quarter. Victory Capital Management Inc. now owns 55,779 shares of the company's stock worth $1,634,000 after buying an additional 24,493 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Chewy by 88.2% in the third quarter. Natixis Advisors LLC now owns 176,450 shares of the company's stock worth $5,168,000 after purchasing an additional 82,713 shares during the last quarter. Swiss National Bank increased its position in shares of Chewy by 11.8% during the 3rd quarter. Swiss National Bank now owns 299,100 shares of the company's stock valued at $8,761,000 after purchasing an additional 31,500 shares during the last quarter. Quest Partners LLC bought a new position in shares of Chewy in the 3rd quarter worth approximately $229,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Chewy by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 528,215 shares of the company's stock worth $15,471,000 after buying an additional 24,798 shares during the last quarter. 93.09% of the stock is owned by institutional investors.

About Chewy

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.