Chewy (NYSE:CHWY) Hits New 1-Year High - Should You Buy?

Chewy, Inc. (NYSE:CHWY - Get Free Report) shares 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.

Wall Street Analysts Forecast Growth

CHWY has been the topic of a number of research reports. UBS Group lifted their price target on shares of Chewy from $30.00 to $34.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Wedbush reaffirmed an "outperform" rating and issued a $39.00 price target (up previously from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Robert W. Baird lifted their price target on shares of Chewy from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Monday, November 25th. BNP Paribas lowered shares of Chewy from an "outperform" rating to a "neutral" rating in a research note on Thursday, December 5th. Finally, Morgan Stanley lifted their price target on shares of Chewy from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Chewy presently has a consensus rating of "Moderate Buy" and an average target price of $36.80.

Chewy Stock Up 3.3 %

The firm has a market capitalization of $15.98 billion, a price-to-earnings ratio of 43.13, a P/E/G ratio of 4.16 and a beta of 1.10. The stock's fifty day moving average is $34.48 and its two-hundred day moving average is $30.05.

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 analysts' consensus estimates of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the previous year, the company earned ($0.08) earnings per share. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts anticipate that Chewy, Inc. will post 0.24 EPS for the current year.

Insider Buying and Selling at Chewy

In other news, CTO Satish Mehta sold 8,056 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the sale, the chief technology officer now owns 585,962 shares of the company's stock, valued at approximately $19,612,148.14. The trade was a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $31.32, for a total transaction of $620,989,219.44. The disclosure for this sale can be found here. Insiders have sold a total of 28,103,513 shares of company stock worth $916,453,941 over the last ninety days. Insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Chewy

A number of institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its position in Chewy by 1.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company's stock worth $661,000 after purchasing an additional 301 shares during the period. Blue Trust Inc. lifted its position in 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 during the period. Fifth Third Bancorp lifted its position in Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after purchasing an additional 444 shares during the period. Washington Trust Advisors Inc. lifted its position in Chewy by 0.3% during the third quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company's stock worth $8,156,000 after purchasing an additional 923 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Chewy by 10.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company's stock worth $308,000 after purchasing an additional 1,029 shares during the period. Institutional investors own 93.09% of the company's stock.

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.