Chewy (NYSE:CHWY) Price Target Increased to $32.00 by Analysts at Robert W. Baird

Chewy (NYSE:CHWY) had its price target boosted by stock analysts at Robert W. Baird from $26.00 to $32.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 17.35% from the stock’s current price.

Several other research analysts have also weighed in on the company. Piper Sandler upped their target price on Chewy from $16.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Wedbush reissued an “outperform” rating and issued a $35.00 target price on shares of Chewy in a research report on Thursday, August 8th. UBS Group raised their price target on shares of Chewy from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Wolfe Research began coverage on shares of Chewy in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.86.

Chewy Stock Up 0.6 %

CHWY opened at $27.27 on Tuesday. The business has a fifty day simple moving average of $25.12 and a 200-day simple moving average of $19.96. The firm has a market cap of $11.86 billion, a PE ratio of 151.50, a P/E/G ratio of 3.48 and a beta of 1.03. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $39.10.

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

Insider Buying and Selling at Chewy

In other news, CTO Satish Mehta sold 2,894 shares of Chewy stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $64,362.56. Following the sale, the chief technology officer now owns 573,463 shares of the company’s stock, valued at approximately $12,753,817.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the sale, the chief executive officer now directly owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Satish Mehta sold 2,894 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $64,362.56. Following the transaction, the chief technology officer now owns 573,463 shares of the company’s stock, valued at approximately $12,753,817.12. The disclosure for this sale can be found here. Insiders sold a total of 18,906,141 shares of company stock valued at $540,973,233 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. 1620 Investment Advisors Inc. acquired a new stake in shares of Chewy in the 2nd quarter valued at $33,000. Industrial Alliance Investment Management Inc. acquired a new position in Chewy in the second quarter valued at about $44,000. First Horizon Advisors Inc. bought a new stake in Chewy during the second quarter worth about $48,000. Skylands Capital LLC acquired a new stake in shares of Chewy during the second quarter worth approximately $52,000. Finally, Quest Partners LLC bought a new position in shares of Chewy in the fourth quarter valued at approximately $65,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.