Brokerages Set Chewy, Inc. (NYSE:CHWY) Target Price at $37.30

Shares of Chewy, Inc. (NYSE:CHWY) have been assigned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $37.30.

A number of research analysts have issued reports on the stock. Guggenheim set a $42.00 price target on shares of Chewy and gave the company a “buy” rating in a research note on Tuesday, February 4th. BNP Paribas downgraded Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. Citigroup raised Chewy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $28.00 to $40.00 in a research report on Friday, November 8th. Robert W. Baird increased their price objective on Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Finally, Piper Sandler lifted their target price on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd.

Chewy Trading Up 3.9 %

Shares of CHWY opened at $35.91 on Monday. The firm has a market cap of $14.62 billion, a PE ratio of 39.46, a P/E/G ratio of 2.21 and a beta of 1.10. Chewy has a 12 month low of $14.69 and a 12 month high of $40.09. The stock has a fifty day moving average price of $36.57 and a 200-day moving average price of $32.15.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same period last year, the business posted ($0.08) earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, research analysts forecast that Chewy will post 0.24 EPS for the current year.

Insider Transactions at Chewy

In related news, CFO David Reeder sold 307,558 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $37.48, for a total value of $11,527,273.84. Following the completion of the sale, the chief financial officer now owns 546,257 shares of the company’s stock, valued at approximately $20,473,712.36. The trade was a 36.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $31.32, for a total transaction of $620,989,219.44. The disclosure for this sale can be found here. Insiders have sold a total of 28,561,427 shares of company stock valued at $933,874,848 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chewy

Several large investors have recently bought and sold shares of the company. Banque Transatlantique SA acquired a new stake in shares of Chewy in the fourth quarter worth approximately $30,000. Fifth Third Bancorp grew its holdings in shares of Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after buying an additional 444 shares in the last quarter. Blue Trust Inc. raised its position in shares of Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after buying an additional 905 shares during the last quarter. Planning Capital Management Corp acquired a new stake in shares of Chewy in the third quarter valued at about $52,000. Finally, Allworth Financial LP lifted its stake in shares of Chewy by 52.0% in the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after buying an additional 650 shares in the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

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.