Chewy (NYSE:CHWY) Given New $43.00 Price Target at Mizuho

Chewy (NYSE:CHWY) had its price objective increased by Mizuho from $42.00 to $43.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Seaport Res Ptn raised shares of Chewy to a “hold” rating in a research report on Monday. UBS Group increased their target price on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group upped their price objective on Chewy from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup lifted their target price on Chewy from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wedbush restated an “outperform” rating and issued a $39.00 price target on shares of Chewy in a report on Thursday. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and a consensus target price of $38.68.

Chewy Stock Performance

Shares of NYSE CHWY opened at $32.68 on Thursday. Chewy has a 52-week low of $14.69 and a 52-week high of $40.09. The firm has a market capitalization of $13.31 billion, a price-to-earnings ratio of 35.91, a PEG ratio of 2.21 and a beta of 1.23. The stock has a 50 day moving average price of $36.00 and a 200 day moving average price of $33.13.

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

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 191,096 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.68, for a total transaction of $6,818,305.28. Following the completion of the transaction, the chief executive officer now owns 707,126 shares of the company’s stock, valued at $25,230,255.68. This trade represents a 21.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.77, for a total transaction of $250,390,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,083,269 shares of company stock worth $290,611,129. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CHWY. Mutual of America Capital Management LLC purchased a new position in shares of Chewy in the fourth quarter valued at approximately $2,915,000. Centiva Capital LP purchased a new position in Chewy in the 3rd quarter valued at approximately $2,949,000. Raymond James Financial Inc. acquired a new position in shares of Chewy in the fourth quarter worth $69,789,000. Geode Capital Management LLC increased its position in shares of Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after acquiring an additional 119,633 shares during the period. Finally, Birch Hill Investment Advisors LLC acquired a new stake in shares of Chewy in the fourth quarter valued at $1,174,000. 93.09% of the stock is currently 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.