Chewy, Inc. (NYSE:CHWY) Receives $38.58 Average Target Price from Brokerages

Shares of Chewy, Inc. (NYSE:CHWY) have received a consensus rating of “Moderate Buy” from the twenty-three brokerages that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $38.47.

CHWY has been the subject of a number of recent research reports. JMP Securities decreased their price objective on Chewy from $40.00 to $39.00 and set a “market outperform” rating for the company in a research report on Monday, April 14th. Guggenheim set a $42.00 price target on Chewy and gave the stock a “buy” rating in a report on Tuesday, February 4th. Seaport Res Ptn upgraded shares of Chewy to a “hold” rating in a research report on Monday, March 24th. Deutsche Bank Aktiengesellschaft set a $27.00 price objective on shares of Chewy and gave the stock a “hold” rating in a research report on Monday, April 14th. Finally, Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd.

Insiders Place Their Bets

In other Chewy news, CEO Sumit Singh sold 8,552 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total transaction of $285,209.20. Following the completion of the transaction, the chief executive officer now owns 62,096 shares of the company’s stock, valued at approximately $2,070,901.60. This trade represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Satish Mehta sold 71,365 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the sale, the chief technology officer now owns 262,853 shares in the company, valued at $9,357,566.80. This represents a 21.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 551,303 shares of company stock worth $20,752,583. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after purchasing an additional 119,633 shares during the last quarter. Virtu Financial LLC purchased a new stake in Chewy in the 3rd quarter valued at about $795,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Chewy during the 3rd quarter worth about $63,000. Castellan Group purchased a new position in shares of Chewy during the 3rd quarter worth about $5,282,000. Finally, Principal Financial Group Inc. grew its holdings in Chewy by 0.7% in the third quarter. Principal Financial Group Inc. now owns 531,709 shares of the company’s stock valued at $15,574,000 after purchasing an additional 3,814 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Trading Down 3.6 %

Shares of CHWY opened at $33.97 on Tuesday. The company’s 50 day simple moving average is $34.17 and its 200-day simple moving average is $33.61. Chewy has a 12-month low of $14.69 and a 12-month high of $40.09. The firm has a market cap of $14.05 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 2.21 and a beta of 1.68.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.25. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the business posted $0.07 earnings per share. Chewy’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, equities research analysts forecast 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.