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

Chewy (NYSE:CHWY) had its price target lifted by JPMorgan Chase & Co. from $38.00 to $40.00 in a research note released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the stock. Piper Sandler raised their price target on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Morgan Stanley lifted their target price on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Finally, Guggenheim set a $42.00 price objective on Chewy and gave the stock a “buy” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Chewy has an average rating of “Moderate Buy” and a consensus price target of $38.68.

Chewy Stock Performance

CHWY stock opened at $32.20 on Thursday. Chewy has a 52-week low of $14.69 and a 52-week high of $40.09. The firm 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. The firm has a 50 day moving average price of $35.90 and a 200-day moving average price of $33.21.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.03 by $0.25. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. Chewy’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 EPS. As a group, sell-side analysts forecast that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.77, for a total value of $250,390,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the transaction, the chief technology officer now owns 262,853 shares of the company’s stock, valued at approximately $9,357,566.80. The trade was a 21.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,083,269 shares of company stock worth $290,611,129 over the last three months. 2.10% of the stock is owned by insiders.

Institutional Trading of Chewy

Institutional investors and hedge funds have recently modified their holdings of the stock. Banque Transatlantique SA bought a new stake in Chewy during the 4th quarter valued at $30,000. Fifth Third Bancorp raised its holdings in shares of Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after acquiring an additional 444 shares in the last quarter. Blue Trust Inc. lifted its stake in Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after acquiring an additional 320 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Chewy during the 3rd quarter worth about $63,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Chewy during the 4th quarter valued at about $67,000. 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.