Piper Sandler Lowers Chewy (NYSE:CHWY) Price Target to $16.00

Chewy (NYSE:CHWY) had its price objective reduced by stock analysts at Piper Sandler from $19.00 to $16.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 6.03% from the stock’s previous close.

Several other brokerages have also weighed in on CHWY. The Goldman Sachs Group reduced their price objective on Chewy from $36.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, March 21st. JPMorgan Chase & Co. cut their price target on Chewy from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $28.00 price target on shares of Chewy in a report on Friday, March 15th. Royal Bank of Canada cut their price target on Chewy from $35.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Finally, Barclays raised Chewy from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $30.00 in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

Chewy Stock Down 3.3 %

CHWY stock opened at $15.09 on Tuesday. The firm has a market cap of $6.56 billion, a PE ratio of 188.65, a P/E/G ratio of 8.17 and a beta of 0.90. The business has a 50 day moving average of $16.76 and a 200-day moving average of $18.63. Chewy has a 12-month low of $15.07 and a 12-month high of $40.78.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.09. Chewy had a return on equity of 11.69% and a net margin of 0.33%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. On average, research analysts expect that Chewy will post 0.08 earnings per share for the current year.

Insider Activity

In other news, CAO Stacy Bowman sold 8,025 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $124,628.25. Following the transaction, the chief accounting officer now directly owns 243,769 shares of the company’s stock, valued at $3,785,732.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Stacy Bowman sold 8,025 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total value of $124,628.25. Following the sale, the chief accounting officer now directly owns 243,769 shares of the company’s stock, valued at $3,785,732.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sumit Singh sold 192,642 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $3,409,763.40. Following the completion of the sale, the chief executive officer now directly owns 1,307,025 shares in the company, valued at $23,134,342.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 250,169 shares of company stock valued at $4,396,079. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Chewy

Several large investors have recently bought and sold shares of CHWY. Headinvest LLC bought a new stake in Chewy during the 3rd quarter valued at approximately $39,000. Quest Partners LLC purchased a new position in shares of Chewy during the fourth quarter valued at approximately $65,000. Future Financial Wealth Managment LLC purchased a new position in shares of Chewy during the first quarter valued at approximately $65,000. Signaturefd LLC lifted its holdings in shares of Chewy by 37.8% during the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after purchasing an additional 922 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Chewy by 15.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock valued at $95,000 after purchasing an additional 543 shares during the last quarter. 93.09% of the stock is owned by institutional investors.

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.