The Goldman Sachs Group Boosts Chewy (NYSE:CHWY) Price Target to $45.00

Chewy (NYSE:CHWY) had its target price upped by The Goldman Sachs Group from $40.00 to $45.00 in a report released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other equities analysts also recently commented on the company. Morgan Stanley boosted their price objective on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Wedbush reissued an “outperform” rating and issued a $39.00 price target on shares of Chewy in a report on Thursday. Seaport Res Ptn raised shares of Chewy to a “hold” rating in a report on Monday. Guggenheim set a $42.00 target price on shares of Chewy and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, Mizuho raised shares of Chewy from a “neutral” rating to an “outperform” rating and raised their target price for the company from $24.00 to $42.00 in a research note on Monday, January 6th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chewy has an average rating of “Moderate Buy” and a consensus price target of $38.68.

Chewy Trading Down 1.7 %

Chewy stock opened at $32.68 on Thursday. Chewy has a 12-month low of $14.69 and a 12-month high of $40.09. The firm has a market capitalization of $13.31 billion, a price-to-earnings ratio of 35.91, a P/E/G ratio of 2.21 and a beta of 1.23. The firm has a 50 day moving average of $36.00 and a 200 day moving average of $33.13.

Chewy (NYSE:CHWY) last announced its quarterly earnings data 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. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same period in the prior year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, analysts predict that Chewy will post 0.24 EPS for the current year.

Insider Activity

In other news, CEO Sumit Singh sold 191,096 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.68, for a total transaction of $6,818,305.28. Following the transaction, the chief executive officer now owns 707,126 shares of the company’s stock, valued at approximately $25,230,255.68. This represents a 21.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Satish Mehta sold 71,365 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the sale, the chief technology officer now directly owns 262,853 shares of the company’s stock, valued at $9,357,566.80. This represents a 21.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,083,269 shares of company stock valued at $290,611,129. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chewy

A number of hedge funds have recently added to or reduced their stakes in CHWY. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Chewy by 1.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock valued at $661,000 after purchasing an additional 301 shares during the period. Blue Trust Inc. raised its position in Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after buying an additional 444 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Chewy by 8.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company’s stock worth $189,000 after buying an additional 450 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake in shares of Chewy by 30.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company’s stock valued at $94,000 after buying an additional 650 shares during the period. 93.09% of the stock is currently owned by 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.