Chewy (NYSE:CHWY) Receives $31.50 Average PT from Brokerages

Shares of Chewy (NYSE:CHWY) have earned an average recommendation of “Moderate Buy” from the twenty-six analysts that are currently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $31.50.

CHWY has been the subject of a number of recent analyst reports. Robert W. Baird reduced their price objective on shares of Chewy from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, June 11th. Zacks Research raised Chewy from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. The Goldman Sachs Group reduced their price objective on Chewy from $46.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, June 12th. Royal Bank Of Canada restated an “outperform” rating and set a $34.00 price objective on shares of Chewy in a report on Wednesday, August 26th. Finally, Barclays lowered their price objective on Chewy from $40.00 to $36.00 and set an “overweight” rating on the stock in a report on Thursday, June 11th.

Chewy Price Performance

NYSE:CHWY opened at $23.87 on Friday. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 0.96 and a beta of 1.42. The company’s 50-day moving average is $22.18 and its two-hundred day moving average is $23.18. Chewy has a 1-year low of $17.40 and a 1-year high of $43.50.

Insiders Place Their Bets

In other news, General Counsel Da-Wai Hu sold 4,203 shares of Chewy stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $19.49, for a total value of $81,916.47. Following the completion of the transaction, the general counsel owned 4,103 shares in the company, valued at approximately $79,967.47. The trade was a 50.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Chewy

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Chewy by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 19,920,347 shares of the company’s stock valued at $658,367,000 after buying an additional 1,017,214 shares during the last quarter. Amundi increased its position in shares of Chewy by 191.8% during the 1st quarter. Amundi now owns 1,466,126 shares of the company’s stock worth $39,584,000 after purchasing an additional 963,750 shares during the last quarter. Jefferies Financial Group Inc. grew its position in shares of Chewy by 550.3% in the fourth quarter. Jefferies Financial Group Inc. now owns 102,249 shares of the company’s stock valued at $3,379,000 after purchasing an additional 86,526 shares during the last quarter. ING Groep NV bought a new stake in shares of Chewy in the fourth quarter valued at about $5,883,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Chewy by 392.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 275,612 shares of the company’s stock valued at $7,442,000 after acquiring an additional 219,696 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

About Chewy

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.