Chewy (NYSE:CHWY) Price Target Raised to $38.00

Chewy (NYSE:CHWY) had its target price boosted by analysts at JPMorgan Chase & Co. from $37.00 to $38.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 21.21% from the stock’s previous close.

A number of other research firms also recently issued reports on CHWY. Evercore ISI lifted their price target on Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Piper Sandler raised their price target on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday. The Goldman Sachs Group upped their price objective on shares of Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday. Raymond James cut shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Finally, UBS Group raised their target price on Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.15.

Chewy Trading Down 6.3 %

NYSE CHWY traded down $2.12 during trading hours on Thursday, hitting $31.35. 7,349,581 shares of the company’s stock were exchanged, compared to its average volume of 8,627,493. Chewy has a 1-year low of $14.69 and a 1-year high of $39.10. The stock has a 50-day simple moving average of $30.40 and a 200 day simple moving average of $27.03. The firm has a market cap of $13.11 billion, a price-to-earnings ratio of 38.23, a PEG ratio of 3.15 and a beta of 1.12.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.15. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share. On average, sell-side analysts anticipate that Chewy will post 0.33 earnings per share for the current fiscal year.

Insider Transactions at Chewy

In other news, CTO Satish Mehta sold 8,056 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the transaction, the chief technology officer now owns 585,962 shares of the company’s stock, valued at $19,612,148.14. This trade represents a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The disclosure for this sale can be found here. Insiders have sold 28,128,804 shares of company stock worth $827,019,626 in the last quarter. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Several institutional investors have recently bought and sold shares of CHWY. Susquehanna Fundamental Investments LLC bought a new stake in Chewy in the 2nd quarter worth approximately $11,916,000. Cetera Advisors LLC purchased a new position in shares of Chewy in the 1st quarter worth $334,000. Sanctuary Advisors LLC bought a new stake in shares of Chewy in the 2nd quarter worth about $673,000. Eagle Asset Management Inc. lifted its holdings in shares of Chewy by 97.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after acquiring an additional 975,647 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after acquiring an additional 2,636,526 shares during the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Company Profile

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.