Chewy (NYSE:CHWY) Price Target Raised to $30.00

Chewy (NYSE:CHWY) had its price target lifted by equities researchers at UBS Group from $21.00 to $30.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 4.38% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Wedbush reiterated an “outperform” rating and set a $35.00 target price on shares of Chewy in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on Chewy from $22.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Robert W. Baird boosted their target price on shares of Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Citigroup upped their price target on shares of Chewy from $16.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Finally, Mizuho raised their price objective on shares of Chewy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and a consensus price target of $28.52.

Chewy Price Performance

Chewy stock opened at $28.74 on Thursday. The business has a 50 day simple moving average of $25.50 and a 200-day simple moving average of $20.36. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10. The stock has a market capitalization of $12.50 billion, a PE ratio of 159.67, a price-to-earnings-growth ratio of 3.48 and a beta of 1.03.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 0.73% and a return on equity of 16.62%. As a group, equities research analysts anticipate that Chewy will post 0.23 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $30.32, for a total value of $40,576,103.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Chewy news, CEO Sumit Singh sold 14,338 shares of Chewy stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the transaction, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $30.32, for a total transaction of $40,576,103.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,906,141 shares of company stock valued at $540,973,233. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CHWY. EntryPoint Capital LLC raised its stake in shares of Chewy by 18.0% during the first quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after purchasing an additional 619 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in shares of Chewy by 3.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock valued at $451,000 after acquiring an additional 870 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Chewy by 10.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock valued at $308,000 after buying an additional 1,029 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Chewy during the 2nd quarter worth approximately $33,000. Finally, Camelot Portfolios LLC lifted its position in Chewy by 14.0% in the 1st quarter. Camelot Portfolios LLC now owns 10,200 shares of the company’s stock valued at $162,000 after purchasing an additional 1,249 shares during the last quarter. Institutional investors and hedge funds 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.