Barclays Issues Positive Forecast for Chewy (NYSE:CHWY) Stock Price

Chewy (NYSE:CHWY) had its price target raised by Barclays from $34.00 to $40.00 in a report released on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research firms have also commented on CHWY. Royal Bank of Canada lifted their price target on shares of Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Citigroup raised Chewy from a “neutral” rating to a “buy” rating and upped their target price for the company from $28.00 to $40.00 in a report on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research report on Wednesday, October 23rd. Wedbush restated an “outperform” rating and set a $35.00 price objective on shares of Chewy in a research report on Thursday, August 29th. Finally, TD Cowen started coverage on Chewy in a research report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.45.

Chewy Stock Up 0.5 %

Shares of NYSE CHWY opened at $31.86 on Monday. The stock’s 50 day moving average price is $29.57 and its two-hundred day moving average price is $25.60. Chewy has a 52-week low of $14.69 and a 52-week high of $39.10. The stock has a market capitalization of $13.32 billion, a P/E ratio of 38.85, a PEG ratio of 3.16 and a beta of 1.06.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.86 billion. On average, analysts anticipate that Chewy will post 0.32 EPS for the current year.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $29.40, for a total value of $789,999,991.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CHWY. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Chewy during the second quarter worth $11,916,000. Russell Investments Group Ltd. boosted its holdings in shares of Chewy by 27.7% in the first quarter. Russell Investments Group Ltd. now owns 86,542 shares of the company’s stock worth $1,355,000 after buying an additional 18,768 shares during the period. Cetera Advisors LLC purchased a new position in shares of Chewy in the first quarter worth approximately $334,000. Sanctuary Advisors LLC acquired a new stake in shares of Chewy during the second quarter valued at approximately $673,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of Chewy in the 1st quarter valued at approximately $1,737,000. Institutional investors 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.