Brokerages Set Chewy, Inc. (NYSE:CHWY) Target Price at $26.31

Shares of Chewy, Inc. (NYSE:CHWY) have received a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $26.31.

A number of equities research analysts recently issued reports on CHWY shares. Royal Bank of Canada lowered their price objective on Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Chewy from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Needham & Company LLC boosted their price objective on Chewy from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Evercore ISI boosted their price objective on Chewy from $19.00 to $22.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. Finally, Citigroup decreased their price target on Chewy from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $25.47 on Wednesday. The company’s 50-day moving average is $18.62 and its 200 day moving average is $18.67. The company has a market capitalization of $11.08 billion, a P/E ratio of 141.50, a price-to-earnings-growth ratio of 4.22 and a beta of 1.00. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $40.22.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.85 billion. Chewy had a net margin of 0.73% and a return on equity of 16.62%. As a group, research analysts predict that Chewy will post 0.2 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sumit Singh sold 6,728 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 $104,485.84. Following the completion of the sale, the chief executive officer now owns 129,991 shares of the company’s stock, valued at $2,018,760.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 $3,785,732.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 6,728 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 $104,485.84. Following the completion of the sale, the chief executive officer now directly owns 129,991 shares of the company’s stock, valued at approximately $2,018,760.23. The disclosure for this sale can be found here. Insiders sold a total of 68,862 shares of company stock valued at $1,047,242 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chewy

A number of institutional investors have recently added to or reduced their stakes in CHWY. State of New Jersey Common Pension Fund D increased its stake in shares of Chewy by 12.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 91,416 shares of the company’s stock worth $1,669,000 after acquiring an additional 10,174 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Chewy by 25.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 17,709 shares of the company’s stock worth $321,000 after acquiring an additional 3,559 shares in the last quarter. Rafferty Asset Management LLC increased its stake in Chewy by 29.9% during the 3rd quarter. Rafferty Asset Management LLC now owns 19,677 shares of the company’s stock valued at $359,000 after purchasing an additional 4,524 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Chewy during the 3rd quarter valued at about $261,000. Finally, CenterBook Partners LP bought a new stake in Chewy during the 3rd quarter valued at about $573,000. 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.