Chewy (NYSE:CHWY) Shares Climb 5% – What’s Next?
by Danessa Lincoln · The Markets DailyChewy (NYSE:CHWY – Get Free Report)’s share price shot up 5% on Wednesday. The stock traded as high as $20.62 and last traded at $20.6930. Approximately 4,934,780 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 8,655,528 shares. The stock had previously closed at $19.71.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on CHWY shares. UBS Group reaffirmed a “neutral” rating on shares of Chewy in a research report on Thursday, September 10th. Rosenblatt Securities dropped their target price on Chewy from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 10th. Piper Sandler reissued an “overweight” rating on shares of Chewy in a report on Friday, August 21st. Weiss Ratings raised Chewy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, September 28th. Finally, Mizuho reduced their price target on Chewy from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday, September 29th. 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.45.
Get Our Latest Research Report on Chewy
Chewy Trading Up 4.7%
The company has a market cap of $8.29 billion, a P/E ratio of 31.25, a P/E/G ratio of 0.81 and a beta of 1.38. The stock’s 50-day moving average is $21.39 and its two-hundred day moving average is $22.09. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.84 and a quick ratio of 0.42.
Chewy (NYSE:CHWY – Get Free Report) last released its quarterly earnings results on Wednesday, September 9th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.18. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Chewy had a return on equity of 60.88% and a net margin of 2.09%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. As a group, equities research analysts predict that Chewy will post 0.76 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. 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 acquiring an additional 818 shares in the last quarter. Root Financial Partners LLC boosted its stake in shares of Chewy by 137.0% in the first quarter. Root Financial Partners LLC now owns 2,969 shares of the company’s stock worth $80,000 after acquiring an additional 1,716 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its position in shares of Chewy by 25.0% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,500 shares of the company’s stock worth $122,000 after purchasing an additional 900 shares in the last quarter. Globeflex Capital L P purchased a new stake in shares of Chewy during the second quarter worth about $109,000. Finally, GAMMA Investing LLC raised its stake in Chewy by 157.1% during the 3rd quarter. GAMMA Investing LLC now owns 5,721 shares of the company’s stock valued at $104,000 after purchasing an additional 3,496 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.
Chewy Company Profile
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.