Chewy (NYSE:CHWY) Trading Up 4.3% – Here’s Why

Shares of Chewy (NYSE:CHWY) were up 4.3% on Tuesday . The company traded as high as $23.22 and last traded at $23.08. Approximately 905,969 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 8,526,179 shares. The stock had previously closed at $22.13.

Wall Street Analyst Weigh In

CHWY has been the topic of a number of research analyst reports. Weiss Ratings cut Chewy from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, July 31st. JPMorgan Chase & Co. lowered their price objective on shares of Chewy from $35.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, June 11th. Barclays dropped their target price on shares of Chewy from $40.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday, June 11th. Jefferies Financial Group reissued a “hold” rating and set a $23.00 target price on shares of Chewy in a research note on Thursday, June 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Chewy in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.05.

Chewy Price Performance

The company has a fifty day moving average price of $21.02 and a 200 day moving average price of $23.42. The stock has a market cap of $9.84 billion, a P/E ratio of 40.05, a P/E/G ratio of 1.16 and a beta of 1.42.

Insider Buying and Selling

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

Institutional Investors Weigh In On Chewy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. boosted its stake in Chewy by 81.4% during the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock valued at $30,000 after purchasing an additional 407 shares during the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of Chewy in the second quarter worth approximately $30,000. Los Angeles Capital Management LLC bought a new position in shares of Chewy in the fourth quarter valued at approximately $31,000. Modus Advisors LLC bought a new position in shares of Chewy in the fourth quarter valued at approximately $34,000. Finally, Montag A & Associates Inc. boosted its position in shares of Chewy by 58.8% during the fourth quarter. Montag A & Associates Inc. now owns 1,270 shares of the company’s stock valued at $42,000 after buying an additional 470 shares during the last quarter. 93.09% of the stock is owned by institutional investors.

Chewy Company Profile

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.