Brokerages Set Chewy, Inc. (NYSE:CHWY) Price Target at $34.60

Chewy, Inc. (NYSE:CHWY) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $35.70.

Several brokerages have weighed in on CHWY. Morgan Stanley lifted their target price on Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Piper Sandler raised their target price on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Finally, Royal Bank of Canada raised their price objective on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th.

Chewy Trading Up 1.2 %

Shares of CHWY opened at $36.19 on Friday. The company’s 50 day simple moving average is $33.10 and its 200-day simple moving average is $29.23. The firm has a market cap of $14.74 billion, a PE ratio of 39.77, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10. 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, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period last year, the firm posted ($0.08) EPS. Chewy’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts forecast that Chewy will post 0.24 EPS for the current fiscal year.

Insider Activity

In other news, CTO Satish Mehta sold 8,056 shares of Chewy stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the sale, the chief technology officer now owns 585,962 shares of the company’s stock, valued at $19,612,148.14. The trade was a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. Insiders have sold 29,053,806 shares of company stock worth $942,139,713 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chewy

Several institutional investors and hedge funds have recently bought and sold shares of CHWY. BC Partners Advisors L.P. acquired a new position in shares of Chewy in the 2nd quarter valued at about $7,517,800,000. Marshall Wace LLP lifted its position in Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after buying an additional 2,636,526 shares in the last quarter. FMR LLC grew its stake in Chewy by 166.8% during the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after buying an additional 2,497,689 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of Chewy in the second quarter worth $40,798,000. Finally, Eagle Asset Management Inc. raised its stake in shares of Chewy by 97.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after acquiring an additional 975,647 shares during the period. Institutional investors and hedge funds 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.