Chewy (NYSE:CHWY) Price Target Cut to $39.00 by Analysts at Morgan Stanley

Chewy (NYSE:CHWY) had its target price trimmed by Morgan Stanley from $40.00 to $39.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also recently issued reports on CHWY. JPMorgan Chase & Co. dropped their price objective on Chewy from $40.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft set a $27.00 price target on shares of Chewy and gave the company a “hold” rating in a research note on Monday. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Barclays raised their target price on shares of Chewy from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Finally, JMP Securities lowered their price target on Chewy from $40.00 to $39.00 and set a “market outperform” rating on the stock in a research report on Monday. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.47.

Chewy Trading Up 1.2 %

Shares of CHWY opened at $35.18 on Thursday. Chewy has a 12 month low of $14.69 and a 12 month high of $40.09. The firm has a fifty day simple moving average of $34.29 and a 200 day simple moving average of $33.48. The stock has a market capitalization of $14.55 billion, a price-to-earnings ratio of 38.66, a PEG ratio of 2.21 and a beta of 1.68.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter last year, the company earned $0.07 EPS. Chewy’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, research analysts predict that Chewy will post 0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sumit Singh sold 8,552 shares of the 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 sale, the chief executive officer now directly owns 62,096 shares of the company’s stock, valued at approximately $2,070,901.60. This represents a 12.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Satish Mehta sold 83,639 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $40.00, for a total value of $3,345,560.00. Following the completion of the transaction, the chief technology officer now directly owns 334,218 shares of the company’s stock, valued at approximately $13,368,720. This trade represents a 20.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 551,303 shares of company stock worth $20,752,583 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

A number of institutional investors and hedge funds have recently made changes to their positions in CHWY. Wealth Enhancement Advisory Services LLC raised its position in Chewy by 1.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock valued at $661,000 after purchasing an additional 301 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after buying an additional 320 shares in the last quarter. North Star Investment Management Corp. raised its holdings in shares of Chewy by 26.6% during the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company’s stock worth $55,000 after buying an additional 353 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Chewy by 5.3% in the first quarter. Park Avenue Securities LLC now owns 7,281 shares of the company’s stock valued at $237,000 after buying an additional 364 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after acquiring an additional 444 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.

About Chewy

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.