Brokerages Set Chewy, Inc. (NYSE:CHWY) PT at $29.55

Chewy, Inc. (NYSE:CHWY) has earned a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $29.55.

Several research firms recently issued reports on CHWY. Wedbush restated an “outperform” rating and issued a $35.00 price target on shares of Chewy in a research note on Thursday, August 29th. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research note on Wednesday. Raymond James cut shares of Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Robert W. Baird increased their target price on shares of Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Finally, UBS Group lifted their price target on shares of Chewy from $21.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th.

Chewy Price Performance

CHWY stock opened at $27.08 on Tuesday. The stock has a market cap of $11.78 billion, a price-to-earnings ratio of 150.42, a price-to-earnings-growth ratio of 3.04 and a beta of 1.05. The company has a fifty day moving average price of $28.68 and a two-hundred day moving average price of $23.86. Chewy has a one year low of $14.69 and a one year high of $39.10.

Chewy (NYSE:CHWY) last announced 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. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. Research analysts anticipate that Chewy will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sumit Singh sold 14,338 shares of Chewy stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the transaction, the chief executive officer now owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’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 quarter, insiders have sold 28,138,627 shares of company stock valued at $827,147,620. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CHWY. Susquehanna Fundamental Investments LLC acquired a new position in shares of Chewy in the 2nd quarter worth approximately $11,916,000. Russell Investments Group Ltd. lifted its holdings in Chewy by 27.7% in the first quarter. Russell Investments Group Ltd. now owns 86,542 shares of the company’s stock valued at $1,355,000 after buying an additional 18,768 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its position in Chewy by 127.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock valued at $27,328,000 after acquiring an additional 963,540 shares during the last quarter. Cetera Advisors LLC acquired a new stake in Chewy during the 1st quarter worth about $334,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Chewy in the 2nd quarter worth about $673,000. 93.09% of the stock is 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.