Analysts Set Chewy, Inc. (NYSE:CHWY) PT at $37.30

Chewy, Inc. (NYSE:CHWY) has earned an average recommendation of “Moderate Buy” from the twenty-three analysts that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $37.30.

CHWY has been the topic of several research analyst reports. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and upped their target price for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. Piper Sandler increased their price objective on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group increased their price target on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Barclays raised their price target on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th.

Chewy Trading Up 3.1 %

CHWY stock opened at $37.27 on Monday. The stock’s 50 day simple moving average is $36.71 and its 200 day simple moving average is $32.37. Chewy has a 12-month low of $14.69 and a 12-month high of $40.09. The stock has a market capitalization of $15.17 billion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the previous year, the business earned ($0.08) earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, research analysts predict that Chewy will post 0.24 earnings per share for the current year.

Insiders Place Their Bets

In other Chewy news, CFO David Reeder sold 307,558 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $37.48, for a total transaction of $11,527,273.84. Following the sale, the chief financial officer now directly owns 546,257 shares of the company’s stock, valued at $20,473,712.36. This trade represents a 36.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. Insiders sold a total of 28,553,371 shares of company stock worth $933,605,214 over the last three months. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chewy

A number of institutional investors have recently added to or reduced their stakes in CHWY. Vanguard Group Inc. boosted its position in shares of Chewy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock worth $485,093,000 after acquiring an additional 3,493,926 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. Durable Capital Partners LP bought a new position in shares of Chewy during the 4th quarter valued at about $79,050,000. Invesco Ltd. grew its position in shares of Chewy by 4,577.5% during the fourth quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock valued at $73,381,000 after purchasing an additional 2,144,302 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Chewy in the fourth quarter worth about $69,789,000. 93.09% of the stock is owned by hedge funds and other 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.