Chewy (NYSE:CHWY) Price Target Raised to $35.00 at Wedbush

Chewy (NYSE:CHWY) had its price objective boosted by Wedbush from $28.00 to $35.00 in a research report released on Thursday, Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other research firms have also commented on CHWY. Mizuho lifted their price objective on shares of Chewy from $18.00 to $20.00 and gave the stock a neutral rating in a research note on Monday, June 10th. Citigroup decreased their price objective on shares of Chewy from $18.00 to $16.00 and set a neutral rating for the company in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft upped their target price on Chewy from $18.00 to $20.00 and gave the company a hold rating in a research note on Thursday, May 30th. Needham & Company LLC raised their price target on Chewy from $25.00 to $30.00 and gave the stock a buy rating in a research note on Wednesday, May 29th. Finally, Morgan Stanley upped their price objective on Chewy from $27.00 to $28.00 and gave the company an overweight rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $26.64.

Chewy Trading Down 0.0 %

Shares of NYSE CHWY opened at $29.13 on Thursday. Chewy has a 12-month low of $14.69 and a 12-month high of $40.22. The firm’s 50-day moving average price is $19.35 and its 200-day moving average price is $18.87. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of 161.83, a P/E/G ratio of 4.97 and a beta of 1.00.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. On average, equities analysts predict that Chewy will post 0.2 EPS for the current fiscal year.

Insider Activity at Chewy

In other Chewy news, CEO Sumit Singh sold 6,728 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total transaction of $104,485.84. Following the completion of the sale, the chief executive officer now directly owns 129,991 shares of the company’s stock, valued at $2,018,760.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CTO Satish Mehta sold 8,019 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $121,247.28. Following the completion of the sale, the chief technology officer now owns 569,594 shares of the company’s stock, valued at approximately $8,612,261.28. 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 6,728 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $104,485.84. Following the transaction, the chief executive officer now directly owns 129,991 shares in the company, valued at $2,018,760.23. The disclosure for this sale can be found here. Insiders have sold a total of 68,862 shares of company stock valued at $1,047,242 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chewy

A number of large investors have recently modified their holdings of CHWY. Charles Schwab Investment Management Inc. boosted its stake in Chewy by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 667,247 shares of the company’s stock worth $15,767,000 after purchasing an additional 39,301 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Chewy during the fourth quarter worth $339,000. Jump Financial LLC grew its holdings in shares of Chewy by 356.6% during the fourth quarter. Jump Financial LLC now owns 164,569 shares of the company’s stock valued at $3,889,000 after buying an additional 128,525 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Chewy by 347.6% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 79,265 shares of the company’s stock valued at $1,909,000 after acquiring an additional 61,556 shares during the period. Finally, Baillie Gifford & Co. increased its position in shares of Chewy by 16.8% in the 4th quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock valued at $436,748,000 after acquiring an additional 2,654,376 shares during the period. Hedge funds and other 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.