Chewy (NYSE:CHWY) Price Target Increased to $28.00 by Analysts at Wedbush

Chewy (NYSE:CHWYFree Report) had its target price lifted by Wedbush from $25.00 to $28.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research analysts have also recently weighed in on CHWY. JPMorgan Chase & Co. cut their price objective on shares of Chewy from $25.00 to $22.00 and set an overweight rating on the stock in a research report on Thursday, March 21st. Morgan Stanley upped their price target on shares of Chewy from $27.00 to $28.00 and gave the company an overweight rating in a report on Thursday. JMP Securities reissued a market outperform rating and issued a $28.00 price objective on shares of Chewy in a research note on Friday, March 15th. Jefferies Financial Group cut their target price on Chewy from $27.00 to $25.00 and set a buy rating on the stock in a research note on Thursday, March 21st. Finally, Bank of America decreased their price target on Chewy from $17.00 to $16.50 and set an underperform rating for the company in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $26.21.

Check Out Our Latest Report on Chewy

Chewy Trading Down 1.5 %

CHWY opened at $21.21 on Thursday. The stock has a 50-day moving average of $16.51 and a 200 day moving average of $18.25. Chewy has a 12 month low of $14.69 and a 12 month high of $40.78. The firm has a market cap of $9.22 billion, a P/E ratio of 117.83, a P/E/G ratio of 9.26 and a beta of 0.91.

Chewy (NYSE:CHWYGet Free Report) last posted its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.11. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. On average, research analysts forecast that Chewy will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sumit Singh sold 46,090 shares of Chewy stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $696,880.80. Following the transaction, the chief executive officer now owns 1,379,100 shares of the company’s stock, valued at approximately $20,851,992. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Stacy Bowman sold 8,025 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total value of $124,628.25. Following the completion of the sale, the chief accounting officer now owns 243,769 shares of the company’s stock, valued at approximately $3,785,732.57. 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 46,090 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $696,880.80. Following the transaction, the chief executive officer now directly owns 1,379,100 shares in the company, valued at $20,851,992. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,993 shares of company stock worth $1,067,363. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chewy

Hedge funds and other institutional investors have recently modified their holdings of the stock. CenterBook Partners LP acquired a new position in Chewy during the 3rd quarter valued at approximately $573,000. Charles Schwab Investment Management Inc. raised its stake in Chewy by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 667,247 shares of the company’s stock worth $15,767,000 after acquiring an additional 39,301 shares during the last quarter. Rafferty Asset Management LLC lifted its position in Chewy by 29.9% during the 3rd quarter. Rafferty Asset Management LLC now owns 19,677 shares of the company’s stock worth $359,000 after acquiring an additional 4,524 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in Chewy during the 4th quarter valued at about $339,000. Finally, Jump Financial LLC increased its holdings in shares of Chewy by 356.6% in the fourth quarter. Jump Financial LLC now owns 164,569 shares of the company’s stock valued at $3,889,000 after purchasing an additional 128,525 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Company Profile

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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.

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Analyst Recommendations for Chewy (NYSE:CHWY)

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