Chewy (NYSE:CHWY) PT Raised to $34.00 at Barclays

Chewy (NYSE:CHWY) had its price target boosted by research analysts at Barclays from $32.00 to $34.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 17.08% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim upped their price objective on shares of Chewy from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft boosted their target price on Chewy from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Argus downgraded shares of Chewy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Bank of America upped their price objective on shares of Chewy from $20.00 to $24.00 and gave the stock an “underperform” rating in a research report on Thursday. Finally, Morgan Stanley raised their price objective on Chewy from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Monday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $29.43.

Chewy Price Performance

Shares of CHWY opened at $29.04 on Thursday. The firm has a market capitalization of $12.63 billion, a PE ratio of 159.56, a PEG ratio of 3.48 and a beta of 1.03. The company’s 50-day moving average is $25.50 and its 200-day moving average is $20.36. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $39.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. Chewy had a net margin of 0.73% and a return on equity of 16.62%. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. Analysts predict that Chewy will post 0.23 earnings per share for the current fiscal year.

Insider Activity at Chewy

In other news, CEO Sumit Singh sold 14,338 shares of Chewy stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the sale, the chief executive officer now directly owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sumit Singh sold 14,338 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of Chewy 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 three months, insiders sold 18,906,141 shares of company stock valued at $540,973,233. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BC Partners Advisors L.P. bought a new position in Chewy during the second quarter worth about $7,517,800,000. Marshall Wace LLP boosted its holdings in Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after buying an additional 2,636,526 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Chewy in the 4th quarter valued at approximately $42,223,000. Fiera Capital Corp purchased a new position in shares of Chewy in the second quarter valued at $44,373,000. Finally, Clearbridge Investments LLC purchased a new position in shares of Chewy during the 2nd quarter valued at $40,798,000. 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.