Chewy (NYSE:CHWY) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Chewy (NYSE:CHWY) had its price objective hoisted by Robert W. Baird from $35.00 to $40.00 in a research note released on Monday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 target price on shares of Chewy in a report on Friday, September 20th. TD Cowen initiated coverage on shares of Chewy in a research note on Wednesday, October 9th. They set a “buy” rating and a $38.00 price objective for the company. Raymond James lowered shares of Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. boosted their target price on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, UBS Group upped their price target on shares of Chewy from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chewy has a consensus rating of “Moderate Buy” and an average price target of $32.35.

Chewy Price Performance

Shares of CHWY opened at $33.33 on Monday. The company’s fifty day moving average price is $30.04 and its 200-day moving average price is $26.44. Chewy has a 1-year low of $14.69 and a 1-year high of $39.10. The firm has a market capitalization of $13.94 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 3.34 and a beta of 1.06.

Chewy (NYSE:CHWY) last posted its quarterly earnings results 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 business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. As a group, research analysts anticipate that Chewy will post 0.32 EPS for the current fiscal year.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. BC Partners Advisors L.P. purchased a new stake in shares of Chewy during the second quarter worth $7,517,800,000. Marshall Wace LLP raised its holdings in Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after acquiring an additional 2,636,526 shares during the last quarter. FMR LLC lifted its stake in Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after purchasing an additional 2,497,689 shares in the last quarter. Fiera Capital Corp acquired a new position in shares of Chewy during the 2nd quarter worth approximately $44,373,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of Chewy in the second quarter valued at approximately $40,798,000. 93.09% of the stock is owned by institutional investors and hedge funds.

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.