Chewy (NYSE:CHWY) Price Target Lowered to $16.00 at Piper Sandler

Chewy (NYSE:CHWY) had its price target trimmed by Piper Sandler from $19.00 to $16.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

CHWY has been the topic of several other reports. Bank of America cut their price objective on shares of Chewy from $17.00 to $16.50 and set an underperform rating on the stock in a report on Thursday, March 21st. JPMorgan Chase & Co. lowered their target price on shares of Chewy from $25.00 to $22.00 and set an overweight rating for the company in a research note on Thursday, March 21st. The Goldman Sachs Group lowered their target price on shares of Chewy from $36.00 to $32.00 and set a buy rating for the company in a research note on Thursday, March 21st. Barclays raised shares of Chewy from an equal weight rating to an overweight rating and upped their target price for the company from $19.00 to $30.00 in a research note on Thursday, January 11th. Finally, JMP Securities reaffirmed a market outperform rating and issued a $28.00 target price on shares of Chewy in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chewy currently has a consensus rating of Moderate Buy and a consensus target price of $27.50.

Chewy Trading Down 0.6 %

Shares of CHWY stock opened at $15.60 on Tuesday. Chewy has a 1 year low of $15.08 and a 1 year high of $40.78. The firm’s 50 day moving average is $16.81 and its 200-day moving average is $18.65. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 195.02, a PEG ratio of 8.41 and a beta of 0.91.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.09. Chewy had a net margin of 0.33% and a return on equity of 11.69%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. On average, equities research analysts forecast that Chewy will post 0.08 earnings per share for the current fiscal year.

Insider Activity at Chewy

In related news, CTO Satish Mehta sold 40,523 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total value of $717,257.10. Following the completion of the transaction, the chief technology officer now owns 557,058 shares of the company’s stock, valued at $9,859,926.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Chewy news, CEO Sumit Singh sold 6,728 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $104,485.84. Following the completion of the sale, the chief executive officer now owns 129,991 shares in the company, valued at $2,018,760.23. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Satish Mehta sold 40,523 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total transaction of $717,257.10. Following the completion of the sale, the chief technology officer now owns 557,058 shares of the company’s stock, valued at approximately $9,859,926.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 250,169 shares of company stock valued at $4,396,079. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

A number of large investors have recently added to or reduced their stakes in CHWY. Headinvest LLC acquired a new stake in shares of Chewy during the 3rd quarter worth about $39,000. Quest Partners LLC acquired a new stake in shares of Chewy during the 4th quarter worth about $65,000. Signaturefd LLC lifted its stake in shares of Chewy by 37.8% during the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after buying an additional 922 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Chewy by 15.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock worth $95,000 after buying an additional 543 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Chewy during the 1st quarter worth about $65,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Company Profile

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.