Why Chewy Inc. (NYSE: CHWY) Stock Shouldn’t Be Ignored In 2021

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In today’s recent session, 1.45 million shares of the Chewy Inc. (NYSE:CHWY) were traded. Most recently the company’s share price was $63.12, and it changed around -$2.92 or -4.42% from the last close, which brings the market valuation of the company to $27.59B. CHWY at last check was trading at a discount to its 52-week high of $120.00, offering almost -90.11% off that amount. The share price’s 52-week low was $60.45, which indicates that the recent value has risen by an impressive 4.23% since then. We note from Chewy Inc.’s average daily trading volume that its 10-day average is 2.83 million shares, with the 3-month average coming to 3.34 million.

Chewy Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.10. If we narrow it down even further, the data shows that 1 out of 24 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 9 recommended CHWY as a Hold, whereas 12 deemed it a Buy, and 1 rated it as Underweight. Chewy Inc. is expected to report earnings per share of -$0.04 for the current quarter.

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Instantly CHWY has been showing red trend so far today with a performance of -4.42% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 76.20 on Monday, 11/22/21 increased the stock’s daily price by 17.17%. The company’s shares are currently down -26.53% year-to-date, but still down -11.66% over the last five days. On the other hand, Chewy Inc. (NYSE:CHWY) is 0.87% down in the 30-day period. We can see from the shorts that 14.48 million shares have been sold at a short interest cover period of 3.67 day(s).

The consensus price target as assigned by Wall Street analysts is $95.78, which translates to bulls needing to increase their stock price by 34.1% from its current value. Analyst projections state that CHWY is forecast to be at a low of $71.00 and a high of $133.00. In order for the stock price to hit the forecast high, the stock would need to plunge -110.71% from its current level, while the stock would need to crash -12.48% from its current level to reach the projected low.

Chewy Inc. (CHWY) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 50.00% in revenue this quarter, and will report an increase of 20.00% in the next quarter. The year-over-year growth rate is expected to be 26.70%, up from the previous year.

Consensus estimates provided by 16 financial analysts predict the company will bring in an average of $2.21 billion in revenue for the current quarter. 15 analysts expect Chewy Inc. to make $2.44 billion in revenue for the quarter ending Jan 2022. Forecasts for the next quarter put sales growth at 19.40%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 22.90%. Chewy Inc. earnings are expected to increase by 64.20% in 2021, but the outlook is positive 2.00% per year for the next five years.

CHWY Dividends

Chewy Inc.’s next quarterly earnings report is expected to be released around December 06 and December 10.

Chewy Inc. (NYSE:CHWY)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 21.93% of Chewy Inc. shares, and 80.70% of them are in the hands of institutional investors. The stock currently has a share float of 103.37%. Chewy Inc. stock is held by 598 institutions, with Morgan Stanley being the largest institutional investor. By Mar 30, 2021, it held 11.40% of the shares, which is about 11.89 million shares worth $1.01 billion.

Baillie Gifford and Company, with 7.24% or 7.55 million shares worth $639.48 million as of Mar 30, 2021, holds the second largest percentage of outstanding shares.

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Vanguard U.S. Growth Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Feb 27, 2021. The former held 4.61 million shares worth $468.07 million, making up 4.42% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 2.02 million shares worth around $170.82 million, which represents about 1.93% of the total shares outstanding.

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