Chewy (NYSE:CHWY) Given New $36.00 Price Target at Morgan Stanley

Chewy (NYSE:CHWY) had its price target increased by Morgan Stanley from $33.00 to $36.00 in a report published on Monday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on CHWY. Barclays boosted their target price on shares of Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a report on Wednesday, October 23rd. UBS Group lifted their target price on Chewy from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Robert W. Baird increased their price target on shares of Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Raymond James cut shares of Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.35.

Chewy Price Performance

NYSE:CHWY opened at $34.61 on Monday. The company has a market capitalization of $14.47 billion, a P/E ratio of 42.21, a P/E/G ratio of 3.36 and a beta of 1.06. Chewy has a 1 year low of $14.69 and a 1 year high of $39.10. The business has a fifty day simple moving average of $29.95 and a two-hundred day simple moving average of $26.26.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.86 billion. As a group, analysts anticipate that Chewy will post 0.32 earnings per share for the current year.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in Chewy by 27.7% during the 1st quarter. Russell Investments Group Ltd. now owns 86,542 shares of the company’s stock valued at $1,355,000 after purchasing an additional 18,768 shares during the period. Vanguard Group Inc. raised its holdings in shares of Chewy by 9.1% during the first quarter. Vanguard Group Inc. now owns 10,480,230 shares of the company’s stock valued at $166,740,000 after acquiring an additional 875,532 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Chewy by 1,301,834.4% in the first quarter. Lazard Asset Management LLC now owns 416,619 shares of the company’s stock worth $6,628,000 after acquiring an additional 416,587 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in Chewy by 3.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock valued at $451,000 after acquiring an additional 870 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in Chewy by 2.2% during the 1st quarter. California State Teachers Retirement System now owns 108,448 shares of the company’s stock valued at $1,725,000 after purchasing an additional 2,321 shares during the period. Hedge funds and other 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.