Chewy (NYSE:CHWY) Price Target Raised to $36.00 at Morgan Stanley

Chewy (NYSE:CHWY) had its price target boosted by Morgan Stanley from $33.00 to $36.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Friday. Raymond James downgraded shares of Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 target price on shares of Chewy in a report on Friday, September 20th. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and increased their price target for the company from $24.00 to $40.00 in a report on Wednesday, November 20th. Finally, Royal Bank of Canada boosted their price objective on shares of Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Chewy currently has an average rating of “Moderate Buy” and a consensus target price of $32.35.

Chewy Trading Down 0.8 %

Shares of Chewy stock opened at $34.61 on Monday. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10. The firm has a market capitalization of $14.47 billion, a P/E ratio of 42.21, a P/E/G ratio of 3.36 and a beta of 1.06. The business has a fifty day simple moving average of $29.95 and a two-hundred day simple moving average of $26.26.

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

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $29.40, for a total value of $789,999,991.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Castellan Group bought a new stake in Chewy during the 3rd quarter worth approximately $5,282,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Chewy during the 3rd quarter valued at $63,000. Virtu Financial LLC purchased a new position in shares of Chewy during the 3rd quarter valued at $795,000. Geode Capital Management LLC boosted its holdings in Chewy by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after buying an additional 119,633 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its stake in Chewy by 19.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 58,661 shares of the company’s stock worth $1,718,000 after buying an additional 9,548 shares in the last quarter. 93.09% of the stock is currently 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.