Chewy, Inc. (NYSE:CHWY) Receives $34.60 Average Price Target from Analysts

Chewy, Inc. (NYSE:CHWY) has received an average rating of “Moderate Buy” from the twenty-three analysts that are presently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $35.70.

A number of research firms have recently issued reports on CHWY. Barclays boosted their target price on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, November 18th. The Goldman Sachs Group upped their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. TD Cowen started coverage on shares of Chewy in a report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $39.00 price objective (up previously from $35.00) on shares of Chewy in a report on Thursday, December 5th.

Insider Activity at Chewy

In other news, CEO Sumit Singh sold 191,096 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.68, for a total value of $6,818,305.28. Following the completion of the transaction, the chief executive officer now directly owns 707,126 shares of the company’s stock, valued at $25,230,255.68. The trade was a 21.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the stock in a transaction on Friday, December 13th. The shares were 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. In the last 90 days, insiders have sold 21,990,619 shares of company stock valued at $689,372,618. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chewy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. lifted its holdings in shares of Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after acquiring an additional 905 shares during the period. Washington Trust Advisors Inc. grew its holdings in shares of Chewy by 0.3% during the 3rd quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock worth $8,156,000 after purchasing an additional 923 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in Chewy by 10.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock valued at $308,000 after buying an additional 1,029 shares during the period. D.A. Davidson & CO. lifted its position in Chewy by 5.0% during the third quarter. D.A. Davidson & CO. now owns 26,219 shares of the company’s stock valued at $768,000 after buying an additional 1,244 shares in the last quarter. Finally, Planning Capital Management Corp purchased a new stake in Chewy during the third quarter worth approximately $52,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Price Performance

Shares of NYSE:CHWY opened at $35.85 on Friday. Chewy has a 1-year low of $14.69 and a 1-year high of $39.10. The stock has a market cap of $14.60 billion, a P/E ratio of 39.40, a P/E/G ratio of 4.28 and a beta of 1.10. The firm has a fifty day moving average price of $32.73 and a 200 day moving average price of $29.13.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the firm earned ($0.08) earnings per share. Sell-side analysts expect that Chewy will post 0.24 EPS for the current fiscal year.

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.