Chewy (NYSE:CHWY) Price Target Raised to $29.00

Chewy (NYSE:CHWY) had its price objective raised by Evercore ISI from $22.00 to $29.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an in-line rating on the stock.

A number of other brokerages have also recently issued reports on CHWY. Wedbush reiterated an outperform rating and issued a $35.00 target price on shares of Chewy in a report on Thursday, August 8th. Citigroup lifted their price target on Chewy from $16.00 to $28.00 and gave the company a neutral rating in a research note on Friday, July 19th. Guggenheim raised their target price on Chewy from $25.00 to $32.00 and gave the company a buy rating in a report on Friday, June 28th. Mizuho lifted their target price on Chewy from $18.00 to $20.00 and gave the company a neutral rating in a research report on Monday, June 10th. Finally, UBS Group increased their price target on Chewy from $19.00 to $21.00 and gave the company a neutral rating in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Chewy has a consensus rating of Moderate Buy and a consensus target price of $29.15.

Chewy Stock Down 0.5 %

NYSE:CHWY opened at $28.55 on Wednesday. The firm has a market capitalization of $12.42 billion, a P/E ratio of 158.61, a P/E/G ratio of 3.48 and a beta of 1.03. The company has a fifty day moving average of $25.69 and a 200-day moving average of $20.55. Chewy has a twelve month low of $14.69 and a twelve month high of $39.10.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.11. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. On average, analysts anticipate that Chewy will post 0.23 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $30.32, for a total value of $40,576,103.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Satish Mehta sold 2,894 shares of Chewy stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $64,362.56. Following the completion of the sale, the chief technology officer now owns 573,463 shares in the company, valued at approximately $12,753,817.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the business’s stock in a transaction dated 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 a total of 18,906,141 shares of company stock worth $540,973,233 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Chewy by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 667,247 shares of the company’s stock worth $15,767,000 after buying an additional 39,301 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in Chewy during the fourth quarter valued at about $339,000. Russell Investments Group Ltd. raised its position in Chewy by 27.7% during the first quarter. Russell Investments Group Ltd. now owns 86,542 shares of the company’s stock valued at $1,355,000 after purchasing an additional 18,768 shares in the last quarter. Jump Financial LLC lifted its stake in Chewy by 356.6% during the fourth quarter. Jump Financial LLC now owns 164,569 shares of the company’s stock worth $3,889,000 after purchasing an additional 128,525 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Chewy by 127.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock worth $27,328,000 after purchasing an additional 963,540 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors.

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.