Chewy Inc. (NYSE: CHWY) stock fell -4.50% on Thursday to $30.16 against a previous-day closing price of $31.58. With 3.0 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.0 million shares. During the session, the Internet Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $31.97 whereas the lowest price it dropped to was $30.15. The 52-week range on CHWY shows that it touched its highest point at $52.88 and its lowest point at $22.65 during that stretch. It currently has a 1-year price target of $44.95. Beta for the stock currently stands at 0.74.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CHWY was down-trending over the past week, with a drop of -10.72%, but this was down by -2.71% over a month. Three-month performance dropped to -23.76% while six-month performance fell -26.55%. The stock gained 29.39% in the past year, while it has lost -18.66% so far this year. A look at the trailing 12-month EPS for CHWY yields 0.12 with Next year EPS estimates of 0.14. For the next quarter, that number is -0.03. This implies an EPS growth rate of 165.00% for this year and 333.30% for next year.
Float and Shares Shorts:
At present, 424.33 million CHWY shares are outstanding with a float of 90.01 million shares on hand for trading. On May 14, 2023, short shares totaled 21.11 million, which was 4.94% higher than short shares on Apr 13, 2023. In addition to Mr. Sumit Singh as the firm’s CEO & Director, Mr. Mario J. Marte serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 96.15% of CHWY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 52.23% of CHWY, in contrast to 41.12% held by mutual funds. Shares owned by individuals account for 17.67%. As the largest shareholder in CHWY with 14.28% of the stake, Baillie Gifford & Co. holds 16,528,678 shares worth 16,528,678. A second-largest stockholder of CHWY, Morgan Stanley Investment Managem, holds 15,873,398 shares, controlling over 13.71% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CHWY, holding 7,776,233 shares or 6.72% stake. With a 3.90% stake in CHWY, the Morgan Stanley Invt. Fds. – US Ad is the largest stakeholder. A total of 4,516,796 shares are owned by the mutual fund manager. The Vanguard US Growth Fund, which owns about 3.51% of CHWY stock, is the second-largest Mutual Fund holder. It holds 4,065,368 shares valued at 126.07 million. Hartford Mid Cap Fund holds 2.49% of the stake in CHWY, owning 2,880,045 shares worth 89.31 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jan 28, 2023, CHWY reported revenue of $2.43B and operating income of $18.82M. The EBITDA in the recently reported quarter was $36.16M and diluted EPS was $0.04.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CHWY since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CHWY analysts setting a high price target of $57.00 and a low target of $24.00, the average target price over the next 12 months is $44.04. Based on these targets, CHWY could surge 88.99% to reach the target high and fall by -20.42% to reach the target low. Reaching the average price target will result in a growth of 46.02% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded CHWY stock several times over the past three months with 5 Buys and 4 Sells. In these transactions, 279,310 shares were bought while 29,993 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 42 over the past year. The total number of shares bought during that period was 620,732 while 1,354,959 shares were sold.
