Chewy (NYSE:CHWY) Price Target Raised to $40.00

Chewy (NYSE:CHWY) had its price objective boosted by Robert W. Baird from $35.00 to $40.00 in a report released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued reports about the company. UBS Group increased their price target on Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. TD Cowen assumed coverage on Chewy in a research report on Wednesday, October 9th. They set a “buy” rating and a $38.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Morgan Stanley raised their price target on shares of Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.35.

Chewy Trading Down 2.1 %

Chewy stock opened at $33.33 on Monday. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10. The firm has a 50-day moving average price of $30.04 and a 200-day moving average price of $26.44. The firm has a market capitalization of $13.94 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 3.34 and a beta of 1.06.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. As a group, sell-side analysts predict that Chewy will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chewy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Castellan Group acquired a new position in shares of Chewy during the third quarter worth $5,282,000. Wilmington Savings Fund Society FSB purchased a new position in Chewy during the 3rd quarter worth $63,000. Virtu Financial LLC acquired a new position in Chewy during the 3rd quarter valued at about $795,000. Geode Capital Management LLC raised its stake in Chewy by 8.4% in the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after buying an additional 119,633 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in Chewy by 19.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 58,661 shares of the company’s stock valued at $1,718,000 after buying an additional 9,548 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

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.