Brokerages Set Chewy, Inc. (NYSE:CHWY) PT at $34.60

Chewy, Inc. (NYSE:CHWY) has received a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are currently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and sixteen 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 $35.70.

A number of research firms recently weighed in on CHWY. UBS Group boosted their target price on Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. BNP Paribas lowered shares of Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $37.00 target price on shares of Chewy in a research report on Monday, December 16th.

Insider Buying and Selling

In related news, CEO Sumit Singh sold 71,161 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $32.50, for a total value of $2,312,732.50. Following the sale, the chief executive officer now directly owns 77,838 shares of the company’s stock, valued at $2,529,735. This trade represents a 47.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,053,806 shares of company stock worth $942,139,713. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in shares of Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after acquiring an additional 905 shares during the last quarter. Planning Capital Management Corp bought a new position in Chewy in the third quarter valued at about $52,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Chewy during the third quarter valued at about $62,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Chewy during the third quarter worth about $63,000. Finally, Castleview Partners LLC bought a new stake in shares of Chewy during the third quarter worth about $76,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Trading Up 0.4 %

NYSE CHWY opened at $36.34 on Friday. The firm’s fifty day moving average price is $33.29 and its two-hundred day moving average price is $29.29. Chewy has a 1 year low of $14.69 and a 1 year high of $39.10. The firm has a market capitalization of $14.80 billion, a P/E ratio of 39.93, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10.

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

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.