Chewy (NYSE:CHWY) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Chewy (NYSE:CHWY) had its target price raised by stock analysts at The Goldman Sachs Group from $35.00 to $40.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 26.62% from the company’s current price.

A number of other analysts also recently weighed in on CHWY. Morgan Stanley increased their price target on shares of Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. increased their target price on shares of Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Wedbush reaffirmed an “outperform” rating and set a $39.00 price objective (up previously from $35.00) on shares of Chewy in a research note on Thursday. Finally, Bank of America raised Chewy from an “underperform” rating to a “buy” rating and boosted their target price for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.15.

Chewy Price Performance

CHWY opened at $31.59 on Thursday. The company’s 50 day simple moving average is $30.42 and its 200-day simple moving average is $27.06. Chewy has a one year low of $14.69 and a one year high of $39.10. The stock has a market capitalization of $13.21 billion, a P/E ratio of 38.51, a price-to-earnings-growth ratio of 3.15 and a beta of 1.12.

Chewy (NYSE:CHWY) last announced its quarterly earnings data 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 21.00% and a net margin of 3.20%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the previous year, the business posted ($0.08) EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that Chewy will post 0.33 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $29.40, for a total value of $789,999,991.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Satish Mehta sold 8,056 shares of Chewy stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the completion of the transaction, the chief technology officer now owns 585,962 shares of the company’s stock, valued at $19,612,148.14. This represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,128,804 shares of company stock worth $827,019,626. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

A number of institutional investors have recently added to or reduced their stakes in CHWY. California State Teachers Retirement System lifted its position in Chewy by 2.2% during the first quarter. California State Teachers Retirement System now owns 108,448 shares of the company’s stock valued at $1,725,000 after purchasing an additional 2,321 shares during the last quarter. Cetera Advisors LLC purchased a new stake in shares of Chewy during the 1st quarter valued at $334,000. SG Americas Securities LLC lifted its holdings in shares of Chewy by 125.6% during the 2nd quarter. SG Americas Securities LLC now owns 94,838 shares of the company’s stock worth $2,583,000 after acquiring an additional 52,809 shares during the last quarter. Coastline Trust Co bought a new stake in shares of Chewy during the 2nd quarter worth $295,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Chewy by 23.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 23,922 shares of the company’s stock worth $652,000 after acquiring an additional 4,613 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors.

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.