Chewy (NYSE:CHWY) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Chewy (NYSE:CHWY) had its price target boosted by stock analysts at Morgan Stanley from $33.00 to $36.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 5.73% from the stock’s previous close.

Several other analysts also recently weighed in on CHWY. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a report on Wednesday, October 23rd. TD Cowen initiated coverage on shares of Chewy in a report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Evercore ISI raised their price objective on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.35.

Chewy Stock Down 1.6 %

Shares of NYSE:CHWY opened at $34.05 on Monday. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 41.52, a PEG ratio of 3.36 and a beta of 1.06. The firm’s 50-day simple moving average is $29.99 and its 200-day simple moving average is $26.39. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $39.10.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $2.86 billion for 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%. On average, research analysts forecast that Chewy will post 0.32 EPS for the current year.

Insider Activity

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Institutional investors have recently modified their holdings of the company. BC Partners Advisors L.P. purchased a new stake in Chewy in the second quarter valued at approximately $7,517,800,000. Marshall Wace LLP grew 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 purchasing an additional 2,636,526 shares during the period. FMR LLC grew its holdings in Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after purchasing an additional 2,497,689 shares during the period. Fiera Capital Corp purchased a new stake in Chewy in the second quarter valued at approximately $44,373,000. Finally, Clearbridge Investments LLC purchased a new stake in Chewy in the second quarter valued at approximately $40,798,000. 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.