Analysts Set Chewy, Inc. (NYSE:CHWY) PT at $37.30

Shares of Chewy, Inc. (NYSE:CHWY) have earned a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $37.30.

CHWY has been the topic of a number of recent research reports. Robert W. Baird lifted their target price on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Royal Bank of Canada boosted their price target on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Wedbush reiterated an “outperform” rating and issued a $39.00 price objective (up from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Finally, Citigroup raised shares of Chewy from a “neutral” rating to a “buy” rating and increased their price target for the company from $28.00 to $40.00 in a report on Friday, November 8th.

Chewy Price Performance

Shares of NYSE CHWY opened at $37.27 on Monday. The company has a market capitalization of $15.17 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 2.21 and a beta of 1.10. Chewy has a 1-year low of $14.69 and a 1-year high of $40.09. The business has a 50-day moving average of $36.71 and a 200-day moving average of $32.27.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) earnings per share. Research analysts expect that Chewy will post 0.24 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $31.32, for a total transaction of $620,989,219.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Satish Mehta sold 8,056 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction 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 approximately $19,612,148.14. This represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,561,427 shares of company stock worth $933,874,848 over the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chewy

Several institutional investors have recently added to or reduced their stakes in CHWY. Integrated Advisors Network LLC purchased a new position in shares of Chewy during the 4th quarter valued at $235,000. Polar Asset Management Partners Inc. increased its stake in Chewy by 26.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company’s stock worth $9,670,000 after acquiring an additional 60,533 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Chewy in the fourth quarter valued at approximately $318,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Chewy during the 4th quarter valued at $67,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Chewy by 22.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 291,837 shares of the company’s stock worth $9,774,000 after purchasing an additional 54,381 shares during the last quarter. Institutional investors 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.