Chewy (NYSE:CHWY) Price Target Raised to $44.00

Chewy (NYSE:CHWY) had its price target hoisted by Barclays from $40.00 to $44.00 in a research report report published on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research firms have also issued reports on CHWY. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research report on Thursday. JMP Securities reiterated a “market outperform” rating and set a $37.00 price target on shares of Chewy in a report on Monday, December 16th. Argus raised Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. UBS Group upped their price target on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group raised their price objective on Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.68.

Chewy Stock Performance

NYSE:CHWY opened at $32.20 on Thursday. The firm’s 50-day simple moving average is $35.90 and its 200 day simple moving average is $33.21. Chewy has a 52 week low of $14.69 and a 52 week high of $40.09. The firm has a market cap of $13.11 billion, a price-to-earnings ratio of 35.39, a P/E/G ratio of 2.21 and a beta of 1.23.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.25. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 earnings per share. Sell-side analysts anticipate that Chewy will post 0.24 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Satish Mehta sold 71,365 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the completion of the sale, the chief technology officer now owns 262,853 shares in the company, valued at approximately $9,357,566.80. This trade represents a 21.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sumit Singh sold 4,000 shares of Chewy stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $37.52, for a total transaction of $150,080.00. Following the completion of the sale, the chief executive officer now directly owns 518,581 shares in the company, valued at approximately $19,457,159.12. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,083,269 shares of company stock valued at $290,611,129. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Several large investors have recently modified their holdings of CHWY. Charles Schwab Investment Management Inc. increased its holdings in Chewy by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 824,824 shares of the company’s stock worth $24,159,000 after acquiring an additional 46,629 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Chewy by 42.4% in the third quarter. Cerity Partners LLC now owns 15,324 shares of the company’s stock worth $449,000 after purchasing an additional 4,559 shares in the last quarter. DRW Securities LLC bought a new stake in shares of Chewy in the third quarter valued at approximately $293,000. Bank of Montreal Can lifted its stake in shares of Chewy by 261.2% during the 3rd quarter. Bank of Montreal Can now owns 158,166 shares of the company’s stock valued at $4,739,000 after buying an additional 256,275 shares in the last quarter. Finally, FMR LLC boosted its holdings in Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after buying an additional 2,497,689 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.

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.