Chewy, Inc. (NYSE:CHWY) CFO David Reeder Sells 307,558 Shares of Stock

Chewy, Inc. (NYSE:CHWY) CFO David Reeder sold 307,558 shares of Chewy stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $37.48, for a total value of $11,527,273.84. Following the completion of the sale, the chief financial officer now directly owns 546,257 shares of the company’s stock, valued at approximately $20,473,712.36. This trade represents a 36.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Chewy Trading Down 1.5 %

Shares of CHWY opened at $37.20 on Wednesday. The company has a market cap of $15.15 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10. The stock has a 50-day moving average price of $35.52 and a 200-day moving average price of $31.10. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.09.

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

Analysts Set New Price Targets

CHWY has been the subject of several recent research reports. Argus raised Chewy from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. UBS Group lifted their price objective on Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Finally, Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $24.00 to $42.00 in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Hedge Funds Weigh In On Chewy

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Chewy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock valued at $485,093,000 after buying an additional 3,493,926 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Chewy by 9.8% in the 4th quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company’s stock worth $150,345,000 after purchasing an additional 399,330 shares during the period. FMR LLC increased its stake in Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after purchasing an additional 2,497,689 shares during the period. ArrowMark Colorado Holdings LLC increased its stake in Chewy by 5.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock worth $81,014,000 after purchasing an additional 138,768 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Chewy in the 4th quarter worth approximately $69,789,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.