Brokerages Set Chewy, Inc. (NYSE:CHWY) PT at $29.55

Shares of Chewy, Inc. (NYSE:CHWY) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-two ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $29.55.

Several equities analysts recently commented on CHWY shares. Bank of America boosted their price target on Chewy from $20.00 to $24.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. UBS Group boosted their target price on shares of Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Royal Bank of Canada raised 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. TD Cowen initiated coverage on shares of Chewy in a report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on shares of Chewy from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, August 26th.

Insider Buying and Selling at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total value of $789,999,991.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Satish Mehta sold 2,894 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $64,362.56. Following the completion of the transaction, the chief technology officer now owns 573,463 shares of the company’s stock, valued at approximately $12,753,817.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,138,627 shares of company stock worth $827,147,620. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chewy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC bought a new position in shares of Chewy during the 2nd quarter valued at $11,916,000. Russell Investments Group Ltd. boosted its position in shares of 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 acquiring an additional 18,768 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Chewy by 127.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock valued at $27,328,000 after purchasing an additional 963,540 shares during the last quarter. Cetera Advisors LLC bought a new position in Chewy during the 1st quarter valued at about $334,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Chewy in the second quarter worth about $673,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Price Performance

NYSE CHWY opened at $26.95 on Tuesday. The firm has a market capitalization of $11.72 billion, a P/E ratio of 149.72, a P/E/G ratio of 3.04 and a beta of 1.05. Chewy has a 1-year low of $14.69 and a 1-year high of $39.10. The business’s 50-day simple moving average is $28.69 and its 200-day simple moving average is $24.00.

Chewy (NYSE:CHWY) last released its quarterly earnings data 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 analyst estimates of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. On average, equities research analysts expect that Chewy will post 0.32 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.