Chewy (NYSE:CHWY) Shares Down 5.8%

Shares of Chewy Inc (NYSE:CHWY) fell 5.8% during trading on Wednesday . The stock traded as low as $22.67 and last traded at $22.89, 2,904,900 shares traded hands during mid-day trading. An increase of 9% from the average session volume of 2,657,467 shares. The stock had previously closed at $24.31.

Several brokerages recently commented on CHWY. Raymond James reaffirmed a “hold” rating on shares of Chewy in a research note on Wednesday, September 18th. Nomura raised Chewy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $32.00 to $36.00 in a research note on Monday, September 23rd. Wedbush reaffirmed a “neutral” rating and issued a $30.00 price target on shares of Chewy in a research note on Monday. Zacks Investment Research raised Chewy from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Tuesday, August 20th. Finally, Credit Suisse Group began coverage on Chewy in a research note on Monday, November 11th. They issued an “outperform” rating and a $29.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $36.17.

The stock has a 50 day simple moving average of $24.69.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Tuesday, September 17th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.10). The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. The business’s quarterly revenue was up 43.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.16) earnings per share. Sell-side analysts expect that Chewy Inc will post -0.57 EPS for the current year.

In other news, Director James A. Star bought 41,521 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was bought at an average price of $23.94 per share, for a total transaction of $994,012.74. Also, Director Sharon Mccollam bought 3,500 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were purchased at an average price of $27.50 per share, with a total value of $96,250.00.

Several hedge funds have recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC bought a new stake in shares of Chewy during the third quarter worth $25,000. Wealthcare Advisory Partners LLC raised its position in shares of Chewy by 175.0% during the third quarter. Wealthcare Advisory Partners LLC now owns 1,650 shares of the company’s stock worth $41,000 after acquiring an additional 1,050 shares during the last quarter. Creative Planning raised its position in shares of Chewy by 9.0% during the third quarter. Creative Planning now owns 12,929 shares of the company’s stock worth $318,000 after acquiring an additional 1,071 shares during the last quarter. Advisor Group Inc. bought a new stake in shares of Chewy during the second quarter worth $45,000. Finally, BNP Paribas Arbitrage SA bought a new stake in shares of Chewy during the second quarter worth $54,000.

About Chewy (NYSE:CHWY)

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company provides pet food, pet products, pet medications, and other pet health products for dogs, cats, fish, birds, small pets, horses, and reptiles through its chewy.com retail Website, as well as its mobile applications.

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