Chewy (NYSE:CHWY) Given New $45.00 Price Target at The Goldman Sachs Group

Chewy (NYSE:CHWY) had its price target increased by The Goldman Sachs Group from $40.00 to $45.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on CHWY. BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Seaport Res Ptn upgraded Chewy to a “hold” rating in a research note on Monday, March 24th. UBS Group lifted their price target on Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Argus raised Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $39.00 target price on shares of Chewy in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.68.

Chewy Price Performance

Chewy stock opened at $32.20 on Thursday. Chewy has a one year low of $14.69 and a one year high of $40.09. The company’s fifty day moving average price is $35.90 and its two-hundred day moving average price is $33.21. The company has a market capitalization of $13.11 billion, a price-to-earnings ratio of 35.39, a PEG ratio of 2.21 and a beta of 1.23.

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

Insider Transactions at Chewy

In related news, CTO Satish Mehta sold 71,365 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the transaction, the chief technology officer now directly owns 262,853 shares in the company, valued at $9,357,566.80. This represents a 21.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of Chewy stock in a transaction on Monday, January 6th. The stock was 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. Insiders sold a total of 8,083,269 shares of company stock worth $290,611,129 over the last 90 days. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Chewy

Several hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its position in shares of Chewy by 16.5% in the 4th quarter. California State Teachers Retirement System now owns 155,785 shares of the company’s stock valued at $5,217,000 after acquiring an additional 22,033 shares during the period. Centaurus Financial Inc. acquired a new stake in Chewy in the fourth quarter worth $154,000. Integrated Advisors Network LLC acquired a new position in shares of Chewy in the 4th quarter valued at $235,000. Polar Asset Management Partners Inc. increased its position in shares of Chewy by 26.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company’s stock valued at $9,670,000 after buying an additional 60,533 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Chewy during the 4th quarter worth $318,000. 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.