Brokerages Set Chewy, Inc. (NYSE:CHWY) Target Price at $34.15

Chewy, Inc. (NYSE:CHWY) has received an average rating of “Moderate Buy” from the twenty-three research firms that are currently covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $34.15.

A number of equities research analysts have commented on the stock. Raymond James lowered shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. BNP Paribas lowered shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Evercore ISI increased their price objective on Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Finally, Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $28.00 to $40.00 in a research report on Friday, November 8th.

Chewy Trading Up 1.2 %

Shares of Chewy stock opened at $32.26 on Wednesday. The stock has a market capitalization of $13.49 billion, a price-to-earnings ratio of 35.01, a P/E/G ratio of 4.28 and a beta of 1.12. The firm’s 50-day moving average price is $30.66 and its two-hundred day moving average price is $27.59. Chewy has a 1-year low of $14.69 and a 1-year high of $39.10.

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

Insiders Place Their Bets

In related news, CTO Satish Mehta sold 8,056 shares of the firm’s stock in a transaction 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 sale, the chief technology officer now directly owns 585,962 shares in the company, valued at $19,612,148.14. This trade represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,956,046 shares of company stock worth $1,448,008,845. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

A number of hedge funds and other institutional investors have recently bought and sold shares of CHWY. Castellan Group bought a new position in Chewy in the third quarter valued at $5,282,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Chewy in the third quarter valued at about $63,000. Virtu Financial LLC bought a new stake in Chewy during the third quarter worth about $795,000. Geode Capital Management LLC boosted its position in Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after purchasing an additional 119,633 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its stake in Chewy by 19.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 58,661 shares of the company’s stock valued at $1,718,000 after purchasing an additional 9,548 shares in the last quarter. 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.