Jefferies Financial Group comments on Chewy, Inc.’s earnings for fiscal 2022 (NYSE: CHWY)



Chewy, Inc. (NYSE: CHWY) – Stock analysts at Jefferies Financial Group lowered their 2022 earnings per share estimates for Chewy in a research report released on Monday, December 6. Jefferies Financial Group analyst S. Wissink now predicts the company will post earnings per share of $ 0.05 for the year, down from its previous estimate of $ 0.07. Jefferies Financial Group has a “Buy” rating and a target price of $ 100.00 for the stock. Jefferies Financial Group also released estimates for Chewy’s third quarter 2023 earnings at $ 0.04 per share, fourth quarter 2023 earnings at $ 0.15 per share, fiscal 2023 earnings at 0.38 $ per share and earnings for fiscal 2024 to $ 0.67 per share.

A number of other equity research analysts have also commented on the company recently. Wolfe Research upgraded Chewy from a “peer performance” rating to an “outperformance” rating and set a price target of $ 90.00 for the company in a research note on Tuesday, September 28. Robert W. Baird reduced his price target on Chewy from $ 105 to $ 100.00 and established an “outperformance” rating for the company in a research report released Thursday, September 2. Piper Sandler lowered her price target on Chewy from $ 110.00 to $ 100.00 and set an “overweight” rating for the company in a research report released Thursday, September 2. Needham & Company LLC reiterated a “hold” note on Chewy’s shares in a report released on Monday, August 23. Finally, Morgan Stanley lowered its target price on Chewy from $ 83.00 to $ 81.00 and set an “equal weight” rating for the company in a research note on Thursday, September 2. One analyst assigned a sell rating to the stock, nine assigned a conservation rating and twelve assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $ 97.14.

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Knightscope, Inc., a developer of advanced physical security technologies focused on improving security operations in the United States, has begun offering up to $ 40 million in Class A common stock, with the shares to be listed immediately after the close of NASDAQ under the ticker symbol “KSCP.”

Chewy stock opened at $ 59.54 on Tuesday. Chewy has a 12 month low of $ 57.52 and a 12 month high of $ 120.00. The company has a market cap of $ 24.87 billion, a PE ratio of 2,977.00 and a beta of 0.41. The stock has a 50-day moving average price of $ 68.61 and a two-hundred-day moving average price of $ 76.77.

In addition, CFO Mario Jesus Marte sold 83,706 shares in a transaction dated Monday, November 15. The shares were sold for an average price of $ 75.19, for a total value of $ 6,293,854.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this link. Also, the Advocate General Susan helfrick sold 5,000 shares of the company in a transaction dated Tuesday, October 26. The shares were sold at an average price of $ 69, for a total transaction of $ 345,000. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 109,633 shares of the company valued at $ 8,141,622. 0.67% of the shares are currently held by company insiders.

Hedge funds have recently changed their positions in the company. Baillie Gifford & Co. increased its stake in Chewy by 4.4% in the second quarter. Baillie Gifford & Co. now owns 7,878,624 shares of the company valued at $ 628,005,000 after purchasing an additional 329,632 shares during the last quarter. Vanguard Group Inc. increased its position in Chewy by 3.0% in the second quarter. Vanguard Group Inc. now owns 6,351,573 shares of the company valued at $ 506,283,000 after purchasing an additional 184,226 shares during the period. Wellington Management Group LLP increased its position in Chewy shares by 426.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,496,886 shares of the company valued at $ 170,062,000 after purchasing an additional 2,023,038 shares during the period. Franklin Resources Inc. increased its position in Chewy shares by 0.3% during the 3rd quarter. Franklin Resources Inc. now owns 2,103,733 shares of the company valued at $ 143,285,000 after purchasing an additional 5,575 shares during the period. Finally, American Century Companies Inc. increased its position in Chewy shares by 26.5% during the 3rd quarter. American Century Companies Inc. now owns 1,801,416 shares of the company valued at $ 122,694,000 after purchasing an additional 377,614 shares during the period. Institutional investors hold 94.66% of the shares of the company.

Chewy Company Profile

Chewy, Inc is committed to providing pure e-commerce business. It provides pet medicine, food, treats and other pet health products and services for dogs, cats, fish, birds, small pets, horses and the reptiles. The company was founded by Ryan Cohen and Michael Day in September 2011 and is headquartered in Dania Beach, Florida.

Further Reading: What is the Difference Between Common Stock and Convertible Stock?

Chewy's Earnings History and Estimates (NYSE: CHWY)

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