Mizuho Issues Positive Forecast for Chewy (NYSE:CHWY) Stock Price

Chewy (NYSE:CHWY) had its price target lifted by Mizuho from $42.00 to $43.00 in a report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

CHWY has been the subject of several other reports. Citigroup lifted their price target on shares of Chewy from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $37.00 price target on shares of Chewy in a report on Monday, December 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a report on Thursday. UBS Group increased their price target on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group boosted their target price on Chewy from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.68.

Chewy Stock Performance

Shares of CHWY opened at $32.20 on Thursday. The company has a 50-day simple moving average of $35.90 and a 200-day simple moving average of $33.21. The firm has a market capitalization of $13.11 billion, a P/E ratio of 35.39, a P/E/G ratio of 2.21 and a beta of 1.23. Chewy has a 52 week low of $14.69 and a 52 week high of $40.09.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.25. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 EPS. As a group, equities analysts forecast that Chewy will post 0.24 earnings per share for the current year.

Insider Activity

In other news, CEO Sumit Singh sold 191,096 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.68, for a total transaction of $6,818,305.28. Following the transaction, the chief executive officer now owns 707,126 shares in the company, valued at approximately $25,230,255.68. This trade represents a 21.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,083,269 shares of company stock valued at $290,611,129. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CHWY. Vanguard Group Inc. increased its holdings in Chewy by 31.8% in the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock valued at $485,093,000 after buying an additional 3,493,926 shares during the period. FMR LLC lifted its position in shares of 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 during the period. Durable Capital Partners LP bought a new position in shares of Chewy in the 4th quarter worth about $79,050,000. Invesco Ltd. lifted its stake in Chewy by 4,577.5% in the fourth quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock valued at $73,381,000 after buying an additional 2,144,302 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Chewy during the fourth quarter worth $69,789,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

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.