Chewy (NYSE:CHWY) Price Target Raised to $43.00

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

A number of other equities research analysts have also recently weighed in on CHWY. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price target on shares of Chewy in a report on Thursday. Piper Sandler raised their price objective on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. upped their price target on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Chewy in a report on Thursday. Finally, JMP Securities restated a “market outperform” rating and set a $37.00 target price on shares of Chewy in a report on Monday, December 16th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.68.

Chewy Trading Down 1.5 %

Chewy stock opened at $32.20 on Thursday. The stock has a 50 day moving average of $35.90 and a two-hundred day moving average of $33.21. Chewy has a twelve month low of $14.69 and a twelve month high of $40.09. The stock has a market capitalization of $13.11 billion, a price-to-earnings ratio of 35.39, a PEG ratio of 2.21 and a beta of 1.23.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating 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 the consensus estimate of $3.20 billion. During the same quarter last year, the firm earned $0.07 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. Equities analysts predict that Chewy will post 0.24 earnings per share for the current year.

Insider Activity

In other news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Reeder sold 307,558 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $37.48, for a total transaction of $11,527,273.84. Following the completion of the sale, the chief financial officer now owns 546,257 shares in the company, valued at $20,473,712.36. The trade was a 36.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,083,269 shares of company stock worth $290,611,129. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Chewy

Institutional investors have recently made changes to their positions in the stock. Mutual of America Capital Management LLC bought a new stake in Chewy in the fourth quarter worth about $2,915,000. Centiva Capital LP acquired a new stake in shares of Chewy during the 3rd quarter valued at $2,949,000. Raymond James Financial Inc. purchased a new position in Chewy in the fourth quarter valued at about $69,789,000. Geode Capital Management LLC grew its stake in shares of Chewy by 8.4% in the 3rd 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 in the last quarter. Finally, Birch Hill Investment Advisors LLC bought a new stake in Chewy in the fourth quarter worth approximately $1,174,000. 93.09% of the stock is owned by institutional investors and hedge funds.

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.