Guggenheim Boosts Chewy (NYSE:CHWY) Price Target to $32.00

Chewy (NYSE:CHWY) had its price objective upped by stock analysts at Guggenheim from $25.00 to $32.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price suggests a potential upside of 9.85% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC upped their target price on Chewy from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Royal Bank of Canada decreased their target price on shares of Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Citigroup reduced their price target on shares of Chewy from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. JMP Securities restated a “market outperform” rating and set a $28.00 price objective on shares of Chewy in a research report on Friday, March 15th. Finally, UBS Group raised their target price on Chewy from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $26.50.

Chewy Stock Performance

CHWY stock opened at $29.13 on Friday. Chewy has a 52 week low of $14.69 and a 52 week high of $40.22. The company has a market capitalization of $12.67 billion, a PE ratio of 161.83, a price-to-earnings-growth ratio of 4.43 and a beta of 1.00. The company’s 50-day simple moving average is $19.35 and its 200 day simple moving average is $18.87.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. Chewy had a net margin of 0.73% and a return on equity of 16.62%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.85 billion. On average, analysts forecast that Chewy will post 0.22 EPS for the current year.

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 6,728 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $104,485.84. Following the completion of the transaction, the chief executive officer now directly owns 129,991 shares in the company, valued at $2,018,760.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sumit Singh sold 6,728 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $104,485.84. Following the sale, the chief executive officer now directly owns 129,991 shares of the company’s stock, valued at approximately $2,018,760.23. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Satish Mehta sold 8,019 shares of Chewy stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total transaction of $121,247.28. Following the transaction, the chief technology officer now directly owns 569,594 shares of the company’s stock, valued at approximately $8,612,261.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,862 shares of company stock worth $1,047,242. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Several large investors have recently added to or reduced their stakes in the business. Headinvest LLC acquired a new stake in shares of Chewy during the 3rd quarter worth approximately $39,000. Quest Partners LLC bought a new stake in Chewy in the fourth quarter valued at $65,000. Signaturefd LLC increased its stake in Chewy by 37.8% in the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after purchasing an additional 922 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Chewy by 15.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock worth $95,000 after purchasing an additional 543 shares in the last quarter. Finally, EntryPoint Capital LLC grew its stake in shares of Chewy by 18.0% in the 1st quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after buying an additional 619 shares during the period. Institutional investors and hedge funds 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.