Chewy (NYSE:CHWY) Reaches New 52-Week High – Time to Buy?

Chewy, Inc. (NYSE:CHWY)’s stock price reached a new 52-week high on Thursday . The company traded as high as $40.09 and last traded at $39.80, with a volume of 465624 shares. The stock had previously closed at $38.95.

Wall Street Analyst Weigh In

CHWY has been the subject of a number of research reports. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and upped their target price for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. TD Cowen began coverage on shares of Chewy in a research note on Wednesday, October 9th. They set a “buy” rating and a $38.00 target price for the company. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research report on Thursday, December 5th. Wolfe Research raised shares of Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Finally, Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Chewy Stock Performance

The company has a market capitalization of $16.23 billion, a PE ratio of 43.81, a PEG ratio of 4.16 and a beta of 1.10. The stock’s 50 day moving average is $34.83 and its 200 day moving average is $30.35.

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

Insider Buying and Selling at Chewy

In related news, CTO Satish Mehta sold 168,105 shares of Chewy stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $36.32, for a total value of $6,105,573.60. Following the completion of the transaction, the chief technology officer now owns 417,857 shares in the company, valued at approximately $15,176,566.24. This trade represents a 28.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 13,472 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $37.55, for a total value of $505,873.60. Following the transaction, the chief executive officer now owns 505,109 shares of the company’s stock, valued at $18,966,842.95. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,103,513 shares of company stock valued at $916,453,941 in the last 90 days. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after purchasing an additional 2,497,689 shares during the period. ArrowMark Colorado Holdings LLC grew its holdings in shares of Chewy by 5.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock worth $81,014,000 after buying an additional 138,768 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Chewy by 97.9% during the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after buying an additional 975,647 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after buying an additional 119,633 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new stake in shares of Chewy during the second quarter worth $40,798,000. 93.09% of the stock is currently 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.