Brokerages Set Chewy, Inc. (NYSE:CHWY) PT at $29.55

Chewy, Inc. (NYSE:CHWY) has received an average rating of “Moderate Buy” from the twenty-two research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $29.55.

A number of equities research analysts have commented on CHWY shares. Evercore ISI raised their price objective on Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research note on Wednesday. Guggenheim upped their price objective on shares of Chewy from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada lifted their price objective on shares of Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Raymond James lowered shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st.

Chewy Stock Down 1.4 %

Chewy stock opened at $27.08 on Tuesday. The company has a market capitalization of $11.78 billion, a PE ratio of 150.42, a PEG ratio of 3.04 and a beta of 1.05. The firm’s fifty day moving average is $28.68 and its 200 day moving average is $23.86. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. Sell-side analysts expect that Chewy will post 0.32 EPS for the current fiscal year.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Chewy news, CEO Sumit Singh sold 14,338 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the transaction, the chief executive officer now owns 1,398,271 shares in the company, valued at $31,097,547.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were 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. Over the last 90 days, insiders sold 28,138,627 shares of company stock worth $827,147,620. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Chewy by 13.5% during the 4th quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock valued at $226,959,000 after buying an additional 1,140,269 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Chewy during the 1st quarter worth approximately $2,253,000. Thompson Investment Management Inc. lifted its stake in Chewy by 30.7% in the 1st quarter. Thompson Investment Management Inc. now owns 294,480 shares of the company’s stock worth $4,685,000 after purchasing an additional 69,188 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in Chewy in the 1st quarter valued at $292,000. Finally, Future Financial Wealth Managment LLC bought a new position in Chewy in the 1st quarter valued at $65,000. 93.09% of the stock is 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.