Chewy (NYSE:CHWY) Price Target Raised to $40.00

Chewy (NYSE:CHWY) had its target price boosted by Barclays from $34.00 to $40.00 in a research report released on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on the company. UBS Group increased their price objective on Chewy from $21.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Bank of America raised their price target on shares of Chewy from $20.00 to $24.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Raymond James lowered shares of Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Piper Sandler reissued an “overweight” rating and set a $35.00 target price on shares of Chewy in a research report on Friday, September 20th. Finally, Wedbush reiterated an “outperform” rating and issued a $35.00 price objective on shares of Chewy in a research report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.25.

Chewy Trading Up 5.0 %

CHWY stock opened at $34.60 on Monday. The firm has a market cap of $14.46 billion, a PE ratio of 42.19, a PEG ratio of 3.16 and a beta of 1.06. Chewy has a 1 year low of $14.69 and a 1 year high of $39.10. The company has a fifty day simple moving average of $29.76 and a 200 day simple moving average of $25.78.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. As a group, analysts forecast that Chewy will post 0.32 EPS for the current fiscal year.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Chewy

A number of hedge funds and other institutional investors have recently bought and sold shares of CHWY. Susquehanna Fundamental Investments LLC bought a new stake in shares of Chewy in the second quarter worth $11,916,000. Russell Investments Group Ltd. increased its position in shares of Chewy by 27.7% in the first quarter. Russell Investments Group Ltd. now owns 86,542 shares of the company’s stock valued at $1,355,000 after acquiring an additional 18,768 shares during the last quarter. Cetera Advisors LLC bought a new stake in Chewy during the first quarter worth about $334,000. Sanctuary Advisors LLC bought a new position in Chewy in the second quarter valued at approximately $673,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Chewy during the 1st quarter worth approximately $1,737,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

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.