Brokerages Set Chewy, Inc. (NYSE:CHWY) Price Target at $34.15

Shares of Chewy, Inc. (NYSE:CHWY) have been given an average rating of “Moderate Buy” by the twenty-three brokerages that are currently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $34.15.

A number of research firms recently weighed in on CHWY. TD Cowen initiated coverage on Chewy in a research note on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price target on the stock. Wedbush restated an “outperform” rating and set a $39.00 target price (up previously from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised their price objective on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Citigroup raised Chewy from a “neutral” rating to a “buy” rating and upped their target price for the company from $28.00 to $40.00 in a research report on Friday, November 8th.

Chewy Price Performance

Shares of CHWY opened at $32.26 on Wednesday. The company has a market cap of $13.49 billion, a PE ratio of 35.01, a price-to-earnings-growth ratio of 4.28 and a beta of 1.12. The firm has a 50-day moving average of $30.66 and a 200-day moving average of $27.59. Chewy has a one year low of $14.69 and a one year high of $39.10.

Chewy (NYSE:CHWY) last announced 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 firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) earnings per share. Analysts expect that Chewy will post 0.24 earnings per share for the current year.

Insider Buying and Selling at Chewy

In other Chewy news, CTO Satish Mehta sold 8,056 shares of Chewy stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the transaction, the chief technology officer now owns 585,962 shares in the company, valued at $19,612,148.14. The trade was a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The disclosure for this sale can be found here. Insiders sold a total of 47,956,046 shares of company stock worth $1,448,008,845 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new position in shares of Chewy in the second quarter valued at approximately $11,916,000. Cetera Advisors LLC acquired a new position in Chewy in the 1st quarter valued at approximately $334,000. Sanctuary Advisors LLC acquired a new position in shares of Chewy during the second quarter worth $673,000. Eagle Asset Management Inc. grew its stake in shares of Chewy by 97.9% in the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after purchasing an additional 975,647 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Chewy by 1,028.6% in the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after purchasing an additional 2,636,526 shares during the period. 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.