Morgan Stanley Boosts Chewy (NYSE:CHWY) Price Target to $30.00

Chewy (NYSE:CHWY) had its target price upped by Morgan Stanley from $28.00 to $30.00 in a report issued on Monday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other analysts have also issued reports on the company. Robert W. Baird lifted their price target on Chewy from $26.00 to $32.00 and gave the stock an outperform rating in a research note on Tuesday, August 20th. Raymond James cut shares of Chewy from an outperform rating to a market perform rating in a research note on Wednesday, August 21st. Citigroup increased their target price on shares of Chewy from $16.00 to $28.00 and gave the company a neutral rating in a research report on Friday, July 19th. JPMorgan Chase & Co. boosted their price target on shares of Chewy from $22.00 to $28.00 and gave the stock an overweight rating in a research report on Thursday, May 30th. Finally, Argus lowered shares of Chewy from a buy rating to a hold rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $29.43.

Chewy Stock Performance

NYSE:CHWY opened at $28.73 on Monday. The stock has a market capitalization of $12.50 billion, a PE ratio of 159.44, a P/E/G ratio of 3.48 and a beta of 1.03. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $39.10. The company has a fifty day moving average of $25.56 and a two-hundred day moving average of $20.42.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.06. Chewy had a net margin of 0.73% and a return on equity of 16.62%. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. Research analysts forecast that Chewy will post 0.23 earnings per share for the current year.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 2,894 shares of Chewy stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $64,362.56. Following the completion of the sale, the chief technology officer now directly owns 573,463 shares in the company, valued at $12,753,817.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Chewy news, CTO Satish Mehta sold 2,894 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $64,362.56. Following the transaction, the chief technology officer now directly owns 573,463 shares in the company, valued at $12,753,817.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sumit Singh sold 14,338 shares of Chewy stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $318,877.12. Following the completion of the sale, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,906,141 shares of company stock valued at $540,973,233. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Chewy

A number of institutional investors and hedge funds have recently bought and sold shares of CHWY. Charles Schwab Investment Management Inc. raised its stake in shares of Chewy by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 667,247 shares of the company’s stock valued at $15,767,000 after acquiring an additional 39,301 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Chewy in the 4th quarter valued at about $339,000. Russell Investments Group Ltd. boosted its stake in shares of Chewy by 27.7% in the 1st quarter. Russell Investments Group Ltd. now owns 86,542 shares of the company’s stock valued at $1,355,000 after buying an additional 18,768 shares during the period. Jump Financial LLC grew its position in shares of Chewy by 356.6% during the fourth quarter. Jump Financial LLC now owns 164,569 shares of the company’s stock worth $3,889,000 after buying an additional 128,525 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Chewy by 127.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock worth $27,328,000 after buying an additional 963,540 shares during the period. 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.