Chewy (NYSE:CHWY) Price Target Raised to $45.00

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

A number of other equities research analysts also recently commented on CHWY. Argus raised Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada upped their price target on shares of Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Seaport Res Ptn raised shares of Chewy to a “hold” rating in a research note on Monday, March 24th. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a report on Thursday. Finally, BNP Paribas downgraded Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.68.

Chewy Price Performance

NYSE CHWY opened at $32.20 on Thursday. The business has a 50 day moving average price of $35.90 and a 200 day moving average price of $33.21. The company has a market capitalization of $13.11 billion, a P/E ratio of 35.39, a PEG ratio of 2.21 and a beta of 1.23. Chewy has a 1-year low of $14.69 and a 1-year high of $40.09.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.25. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the company posted $0.07 EPS. On average, research analysts expect that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Activity at Chewy

In other news, CTO Satish Mehta sold 71,365 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the completion of the sale, the chief technology officer now owns 262,853 shares in the company, valued at approximately $9,357,566.80. This represents a 21.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 63,187 shares of Chewy stock in a transaction on Monday, January 6th. The stock was sold at an average price of $37.62, for a total value of $2,377,094.94. Following the completion of the transaction, the chief executive officer now owns 643,939 shares in the company, valued at $24,224,985.18. The trade was a 8.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,083,269 shares of company stock valued at $290,611,129 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Chewy

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Chewy by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 824,824 shares of the company’s stock valued at $24,159,000 after acquiring an additional 46,629 shares during the period. Cerity Partners LLC lifted its stake in Chewy by 42.4% in the 3rd quarter. Cerity Partners LLC now owns 15,324 shares of the company’s stock worth $449,000 after acquiring an additional 4,559 shares in the last quarter. DRW Securities LLC acquired a new stake in Chewy during the 3rd quarter worth about $293,000. Bank of Montreal Can grew its stake in Chewy by 261.2% during the 3rd quarter. Bank of Montreal Can now owns 158,166 shares of the company’s stock valued at $4,739,000 after acquiring an additional 256,275 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after purchasing an additional 2,497,689 shares during the period. 93.09% of the stock is 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.