Chewy, Inc. (NYSE:CHWY) Receives $36.80 Consensus PT from Analysts

Chewy, Inc. (NYSE:CHWY) has received a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $36.80.

Several equities research analysts recently weighed in on CHWY shares. TD Cowen assumed coverage on shares of Chewy in a research note on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price for the company. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $24.00 to $40.00 in a research report on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research report on Thursday, December 5th. Piper Sandler raised their target price on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Finally, Mizuho raised shares of Chewy from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $24.00 to $42.00 in a report on Monday, January 6th.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $38.95 on Thursday. Chewy has a 52-week low of $14.69 and a 52-week high of $40.09. The company has a market cap of $15.86 billion, a P/E ratio of 42.80, a P/E/G ratio of 4.36 and a beta of 1.10. The stock’s 50-day moving average is $34.99 and its 200-day moving average is $30.50.

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

Insiders Place Their Bets

In other news, CEO Sumit Singh sold 4,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $37.52, for a total transaction of $150,080.00. Following the completion of the sale, the chief executive officer now owns 518,581 shares in the company, valued at $19,457,159.12. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Satish Mehta sold 83,639 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $40.00, for a total value of $3,345,560.00. Following the completion of the transaction, the chief technology officer now owns 334,218 shares in the company, valued at approximately $13,368,720. This represents a 20.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,196,437 shares of company stock valued at $920,170,901 in the last 90 days. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chewy

Several large investors have recently bought and sold shares of the business. American Century Companies Inc. grew its position in shares of Chewy by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 29,111 shares of the company’s stock worth $793,000 after buying an additional 9,166 shares during the period. Envestnet Asset Management Inc. grew its holdings in Chewy by 243.6% during the second quarter. Envestnet Asset Management Inc. now owns 165,662 shares of the company’s stock valued at $4,513,000 after purchasing an additional 117,454 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Chewy by 15.1% during the second quarter. The Manufacturers Life Insurance Company now owns 27,044 shares of the company’s stock valued at $737,000 after purchasing an additional 3,538 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in Chewy by 74.0% in the second quarter. B. Riley Wealth Advisors Inc. now owns 49,357 shares of the company’s stock valued at $1,344,000 after purchasing an additional 20,998 shares in the last quarter. Finally, Truist Financial Corp raised its holdings in Chewy by 39.3% in the second quarter. Truist Financial Corp now owns 20,732 shares of the company’s stock worth $565,000 after purchasing an additional 5,847 shares during the period. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.