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

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wedbush reissued an “outperform” rating and issued a $39.00 price target (up previously from $35.00) on shares of Chewy in a research report on Thursday, December 5th. Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $24.00 to $42.00 in a report on Monday, January 6th. Robert W. Baird upped 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. Wolfe Research upgraded Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Finally, JMP Securities restated a “market outperform” rating and set a $37.00 target price on shares of Chewy in a research note on Monday, December 16th. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.80.

Chewy Price Performance

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

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

Insider Transactions at Chewy

In related news, CEO Sumit Singh sold 71,161 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the transaction, the chief executive officer now directly owns 77,838 shares of the company’s stock, valued at $2,529,735. This represents a 47.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Satish Mehta sold 8,056 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold 28,103,513 shares of company stock worth $916,453,941 over the last 90 days. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CHWY. CENTRAL TRUST Co grew its stake in shares of Chewy by 45.4% during the 4th quarter. CENTRAL TRUST Co now owns 3,913 shares of the company’s stock worth $131,000 after purchasing an additional 1,222 shares during the period. Oak Harvest Investment Services purchased a new stake in Chewy during the fourth quarter worth about $2,245,000. Legacy Trust grew its position in Chewy by 9.9% during the fourth quarter. Legacy Trust now owns 128,023 shares of the company’s stock worth $4,287,000 after buying an additional 11,495 shares during the period. Hantz Financial Services Inc. increased its holdings in Chewy by 14.4% in the fourth quarter. Hantz Financial Services Inc. now owns 14,515 shares of the company’s stock valued at $486,000 after buying an additional 1,824 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Chewy during the 4th quarter valued at approximately $716,000. 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.