Chewy (NYSE:CHWY) Price Target Lowered to $39.00 at JMP Securities

Chewy (NYSE:CHWY) had its price target decreased by equities researchers at JMP Securities from $40.00 to $39.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ target price points to a potential upside of 12.27% from the company’s current price.

CHWY has been the subject of several other research reports. Guggenheim set a $42.00 price objective on shares of Chewy and gave the company a “buy” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their target price on shares of Chewy from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group upped their price target on Chewy from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $34.00 to $47.00 in a research note on Monday, January 13th. Finally, Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.58.

Chewy Price Performance

NYSE CHWY opened at $34.74 on Monday. Chewy has a 12 month low of $14.69 and a 12 month high of $40.09. The firm has a market capitalization of $14.37 billion, a PE ratio of 38.17, a P/E/G ratio of 2.21 and a beta of 1.68. The company’s 50 day simple moving average is $34.54 and its 200 day simple moving average is $33.38.

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

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 114,130 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $37.70, for a total transaction of $4,302,701.00. Following the completion of the sale, the chief executive officer now directly owns 529,809 shares of the company’s stock, valued at $19,973,799.30. This trade represents a 17.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Satish Mehta sold 83,639 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $40.00, for a total value of $3,345,560.00. Following the completion of the sale, the chief technology officer now directly owns 334,218 shares of the company’s stock, valued at approximately $13,368,720. The trade was a 20.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 669,433 shares of company stock valued at $25,205,364 in the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

A number of large investors have recently bought and sold shares of the business. Parallel Advisors LLC raised its holdings in Chewy by 150.2% during the first quarter. Parallel Advisors LLC now owns 788 shares of the company’s stock valued at $26,000 after buying an additional 473 shares in the last quarter. Banque Transatlantique SA acquired a new position in shares of Chewy during the 4th quarter valued at about $30,000. Fifth Third Bancorp raised its stake in shares of Chewy by 83.0% in the 4th 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 holdings in Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after purchasing an additional 320 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Chewy by 52.0% during the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after purchasing an additional 650 shares during the period. 93.09% of the stock is currently owned by 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.