Robert W. Baird Boosts Chewy (NYSE:CHWY) Price Target to $32.00

Chewy (NYSE:CHWY) had its target price lifted by Robert W. Baird from $26.00 to $32.00 in a research note published on Tuesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

CHWY has been the subject of a number of other reports. Morgan Stanley raised their price objective on Chewy from $27.00 to $28.00 and gave the stock an overweight rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft lifted their target price on Chewy from $18.00 to $20.00 and gave the company a hold rating in a research report on Thursday, May 30th. Raymond James lifted their target price on Chewy from $19.00 to $24.00 and gave the company an outperform rating in a research report on Thursday, May 30th. Argus downgraded Chewy from a buy rating to a hold rating in a research report on Tuesday, July 9th. Finally, Citigroup lifted their target price on Chewy from $16.00 to $28.00 and gave the company a neutral rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Chewy presently has a consensus rating of Moderate Buy and a consensus target price of $27.48.

Chewy Trading Up 1.4 %

Shares of NYSE:CHWY opened at $26.71 on Tuesday. The business has a 50-day moving average price of $25.45 and a 200 day moving average price of $20.19. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 148.39, a PEG ratio of 3.48 and a beta of 1.03. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. As a group, equities research analysts predict that Chewy will post 0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the transaction, the chief executive officer now owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the transaction, the chief executive officer now owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $30.32, for a total value of $40,576,103.84. The disclosure for this sale can be found here. Insiders have sold 18,906,141 shares of company stock valued at $540,973,233 over the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Several large investors have recently bought and sold shares of the company. Cetera Investment Advisers grew its holdings in Chewy by 10.9% in the second quarter. Cetera Investment Advisers now owns 91,831 shares of the company’s stock valued at $2,501,000 after purchasing an additional 9,039 shares during the last quarter. Truist Financial Corp grew its holdings in Chewy by 39.3% in the second quarter. Truist Financial Corp now owns 20,732 shares of the company’s stock valued at $565,000 after purchasing an additional 5,847 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Chewy by 74.0% in the second quarter. B. Riley Wealth Advisors Inc. now owns 49,357 shares of the company’s stock valued at $1,344,000 after purchasing an additional 20,998 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Chewy in the second quarter valued at $11,916,000. Finally, Scientech Research LLC purchased a new stake in shares of Chewy in the second quarter valued at $369,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

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.