Key Points
- Chewy Chief Accounting Officer William Billings sold 17,283 shares at an average price of $21, generating $362,943. The transaction, made under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 30.29% to 39,772 shares.
- Chewy shares fell 1.6% to $20.96, while the company reported quarterly EPS of $0.36 versus the $0.18 consensus estimate and revenue of $3.33 billion, up 7.3% year over year.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $30.45 target price; institutional investors own approximately 93.09% of the stock.
Chewy (NYSE:CHWY - Get Free Report) CAO William Billings sold 17,283 shares of the firm's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $21.00, for a total value of $362,943.00. Following the completion of the transaction, the chief accounting officer owned 39,772 shares of the company's stock, valued at $835,212. The trade was a 30.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Chewy Stock Down 1.6%
Shares of NYSE:CHWY traded down $0.35 during midday trading on Friday, reaching $20.96. The company had a trading volume of 7,678,945 shares, compared to its average volume of 9,395,786. The company has a quick ratio of 0.42, a current ratio of 0.84 and a debt-to-equity ratio of 1.59. The business's 50 day moving average price is $21.23 and its 200 day moving average price is $22.01. The stock has a market cap of $8.43 billion, a PE ratio of 31.76, a P/E/G ratio of 0.89 and a beta of 1.38. Chewy has a 1-year low of $17.40 and a 1-year high of $38.25.
Chewy (NYSE:CHWY - Get Free Report) last released its earnings results on Wednesday, September 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.18. Chewy had a return on equity of 60.88% and a net margin of 2.09%. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. Chewy's revenue was up 7.3% on a year-over-year basis. Research analysts forecast that Chewy will post 0.76 EPS for the current fiscal year.
Institutional Investors Weigh In On Chewy
Hedge funds have recently bought and sold shares of the company. Handelsbanken Fonder AB grew its holdings in Chewy by 0.6% during the second quarter. Handelsbanken Fonder AB now owns 82,700 shares of the company's stock worth $1,625,000 after purchasing an additional 500 shares during the period. IFP Advisors Inc raised its stake in Chewy by 4.0% in the second quarter. IFP Advisors Inc now owns 13,307 shares of the company's stock valued at $261,000 after buying an additional 509 shares during the period. Geneos Wealth Management Inc. raised its stake in Chewy by 8.3% in the first quarter. Geneos Wealth Management Inc. now owns 7,302 shares of the company's stock valued at $197,000 after buying an additional 560 shares during the period. 180 Wealth Advisors LLC raised its stake in Chewy by 7.7% in the second quarter. 180 Wealth Advisors LLC now owns 10,764 shares of the company's stock valued at $212,000 after buying an additional 765 shares during the period. Finally, Parallel Advisors LLC lifted its position in shares of Chewy by 106.8% in the first quarter. Parallel Advisors LLC now owns 1,584 shares of the company's stock valued at $43,000 after buying an additional 818 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the company. Needham & Company LLC reiterated a "hold" rating on shares of Chewy in a research note on Thursday, September 10th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $24.00 price objective (down from $29.00) on shares of Chewy in a report on Friday, September 11th. Piper Sandler reissued an "overweight" rating on shares of Chewy in a research note on Friday, August 21st. Robert W. Baird lowered their target price on shares of Chewy from $30.00 to $28.00 and set an "outperform" rating on the stock in a report on Thursday, September 10th. Finally, Zacks Research upgraded shares of Chewy from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $30.45.
View Our Latest Stock Analysis on Chewy
Chewy Company Profile
(
Get Free Report)
Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile application, the company sells food, treats, toys, supplies, accessories and other products for dogs, cats, fish, birds, reptiles and small pets.
The company also offers prescription and over-the-counter medications through Chewy Pharmacy, as well as pet health products and related services. Its Autoship program allows customers to schedule recurring deliveries of regularly purchased items, while customer support and other digital features are designed to support pet owners throughout the pet-care lifecycle.
Chewy was founded in 2011 by Ryan Cohen and Michael Day and was acquired by PetSmart in 2017.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
