Chewy, Inc. (NYSE:CHWY) Receives $30.15 Average PT from Analysts

Chewy, Inc. (NYSE:CHWY) has earned an average rating of “Moderate Buy” from the twenty-two research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $30.45.

A number of analysts recently issued reports on CHWY shares. TD Cowen began coverage on shares of Chewy in a report on Wednesday, October 9th. They set a “buy” rating and a $38.00 price target on the stock. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. UBS Group increased their price target on Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Barclays boosted their price objective on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Piper Sandler reiterated an “overweight” rating and set a $35.00 target price on shares of Chewy in a research report on Friday, September 20th.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Chewy

Several hedge funds have recently made changes to their positions in CHWY. BC Partners Advisors L.P. purchased a new stake in Chewy during the 2nd quarter worth about $7,517,800,000. Vanguard Group Inc. grew its holdings in Chewy by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 10,480,230 shares of the company’s stock valued at $166,740,000 after purchasing an additional 875,532 shares in the last quarter. FMR LLC grew its stake in shares of Chewy by 166.8% during the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after acquiring an additional 2,497,689 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Chewy by 7.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,553,104 shares of the company’s stock worth $96,787,000 after purchasing an additional 258,502 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Chewy by 1,028.6% in the second 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 in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Price Performance

NYSE CHWY opened at $31.86 on Friday. The company has a fifty day moving average of $29.57 and a 200 day moving average of $25.60. The company has a market capitalization of $13.32 billion, a PE ratio of 38.85, a P/E/G ratio of 3.16 and a beta of 1.06. Chewy has a 1 year low of $14.69 and a 1 year high of $39.10.

Chewy (NYSE:CHWY) last posted its earnings results 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 return on equity of 21.00% and a net margin of 3.20%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. Research analysts expect that Chewy will post 0.32 earnings per share for the current year.

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.