Chewy (NYSE:CHWY) Sees Strong Trading Volume

Chewy, Inc. (NYSE:CHWY) saw an uptick in trading volume on Friday . 75,030 shares were traded during trading, a decline of 98% from the previous session’s volume of 3,482,052 shares.The stock last traded at $77.32 and had previously closed at $79.35.

Several research firms have recently commented on CHWY. Zacks Investment Research lowered shares of Chewy from a “buy” rating to a “hold” rating in a research report on Wednesday, June 2nd. Bank of America reaffirmed a “buy” rating and set a $133.00 price target on shares of Chewy in a research report on Friday, April 16th. Citigroup began coverage on shares of Chewy in a research report on Tuesday, March 9th. They set a “neutral” rating and a $95.00 price target on the stock. Credit Suisse Group reissued a “buy” rating and issued a $121.00 target price on shares of Chewy in a research report on Wednesday. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell began coverage on Chewy in a research report on Monday, March 15th. They issued a “neutral” rating and a $95.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $96.56.

The company has a market cap of $31.63 billion, a P/E ratio of -345.00, a price-to-earnings-growth ratio of 19.52 and a beta of 0.08. The stock’s 50 day simple moving average is $76.96.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, June 9th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.11. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the company earned ($0.12) EPS. The business’s revenue was up 31.7% on a year-over-year basis. As a group, analysts predict that Chewy, Inc. will post 0.2 EPS for the current year.

In other news, insider Stacy Bowman sold 11,422 shares of the company’s stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $87.00, for a total value of $993,714.00. Following the completion of the sale, the insider now directly owns 77,590 shares of the company’s stock, valued at $6,750,330. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Argos Holdings Gp Llc sold 6,150,000 shares of the company’s stock in a transaction dated Monday, April 12th. The shares were sold at an average price of $81.50, for a total transaction of $501,225,000.00. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Ensign Peak Advisors Inc raised its holdings in shares of Chewy by 3.1% in the first quarter. Ensign Peak Advisors Inc now owns 5,134 shares of the company’s stock valued at $435,000 after buying an additional 153 shares during the last quarter. First Manhattan Co. raised its holdings in Chewy by 35.0% during the first quarter. First Manhattan Co. now owns 675 shares of the company’s stock worth $57,000 after purchasing an additional 175 shares in the last quarter. Signaturefd LLC raised its holdings in Chewy by 243.7% during the fourth quarter. Signaturefd LLC now owns 299 shares of the company’s stock worth $27,000 after purchasing an additional 212 shares in the last quarter. Parallel Advisors LLC raised its holdings in Chewy by 33.0% during the first quarter. Parallel Advisors LLC now owns 926 shares of the company’s stock worth $78,000 after purchasing an additional 230 shares in the last quarter. Finally, MTM Investment Management LLC raised its holdings in Chewy by 5.4% during the first quarter. MTM Investment Management LLC now owns 5,325 shares of the company’s stock worth $451,000 after purchasing an additional 275 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

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 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 chewy.com retail Website, as well as its mobile applications.

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