Chewy (NYSE:CHWY) Hits New 1-Year Low on Analyst Downgrade

Chewy, Inc. (NYSE:CHWY) hit a new 52-week low on Wednesday after Piper Sandler lowered their price target on the stock from $19.00 to $16.00. Piper Sandler currently has a neutral rating on the stock. Chewy traded as low as $15.07 and last traded at $15.09, with a volume of 8572021 shares. The stock had previously closed at $15.60.

CHWY has been the subject of a number of other research reports. Royal Bank of Canada reduced their target price on Chewy from $35.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Bank of America reduced their target price on Chewy from $17.00 to $16.50 and set an “underperform” rating for the company in a report on Thursday, March 21st. The Goldman Sachs Group reduced their target price on Chewy from $36.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Wedbush reissued an “outperform” rating and issued a $25.00 target price on shares of Chewy in a report on Thursday, March 21st. Finally, Jefferies Financial Group reduced their target price on Chewy from $27.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chewy has a consensus rating of “Moderate Buy” and an average target price of $27.50.

Insider Transactions at Chewy

In related news, CEO Sumit Singh sold 192,642 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total transaction of $3,409,763.40. Following the transaction, the chief executive officer now directly owns 1,307,025 shares of the company’s stock, valued at approximately $23,134,342.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sumit Singh sold 192,642 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total transaction of $3,409,763.40. Following the transaction, the chief executive officer now directly owns 1,307,025 shares of the company’s stock, valued at approximately $23,134,342.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Stacy Bowman sold 8,025 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $124,628.25. Following the completion of the transaction, the chief accounting officer now directly owns 243,769 shares in the company, valued at $3,785,732.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,169 shares of company stock worth $4,396,079. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chewy

A number of institutional investors have recently made changes to their positions in the company. Diamant Asset Management Inc. bought a new position in Chewy during the 1st quarter worth $177,000. Legacy Trust grew its stake in Chewy by 30.4% during the 1st quarter. Legacy Trust now owns 80,017 shares of the company’s stock worth $1,273,000 after buying an additional 18,655 shares during the last quarter. PFG Investments LLC bought a new position in Chewy during the 1st quarter worth $171,000. First Bank & Trust grew its stake in Chewy by 42.9% during the 1st quarter. First Bank & Trust now owns 13,648 shares of the company’s stock worth $217,000 after buying an additional 4,100 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in Chewy during the 1st quarter worth $65,000. 93.09% of the stock is currently owned by institutional investors.

Chewy Stock Performance

The stock has a market capitalization of $6.69 billion, a P/E ratio of 192.31, a P/E/G ratio of 8.12 and a beta of 0.90. The stock has a 50 day moving average of $16.72 and a 200 day moving average of $18.61.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.09. Chewy had a return on equity of 11.69% and a net margin of 0.33%. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. On average, research analysts anticipate that Chewy, Inc. will post 0.08 EPS for the current fiscal year.

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.