Chewy (NYSE:CHWY) Given New $40.00 Price Target at Robert W. Baird

Chewy (NYSE:CHWY) had its target price lifted by Robert W. Baird from $35.00 to $40.00 in a research note published on Monday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other equities research analysts have also recently commented on CHWY. Evercore ISI lifted their price objective on Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. TD Cowen began coverage on Chewy in a research note on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price target for the company. Citigroup raised shares of Chewy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $28.00 to $40.00 in a research note on Friday, November 8th. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and upped their target price for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. Finally, Piper Sandler reissued an “overweight” rating and issued a $35.00 price target on shares of Chewy in a report on Friday, September 20th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.35.

Chewy Stock Down 0.8 %

Chewy stock opened at $34.61 on Monday. The business’s 50-day simple moving average is $29.95 and its 200 day simple moving average is $26.26. The stock has a market cap of $14.47 billion, a price-to-earnings ratio of 42.21, a P/E/G ratio of 3.36 and a beta of 1.06. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.86 billion. As a group, sell-side analysts expect that Chewy will post 0.32 EPS for the current year.

Insider Buying and Selling

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chewy

Institutional investors and hedge funds have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Chewy in the second quarter valued at approximately $11,916,000. Russell Investments Group Ltd. increased its holdings 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 purchasing an additional 18,768 shares during the last quarter. Cetera Advisors LLC bought a new position in shares of Chewy in the first quarter valued at about $334,000. Sanctuary Advisors LLC acquired a new stake in shares of Chewy during the 2nd quarter worth about $673,000. Finally, Eagle Asset Management Inc. boosted its holdings in shares of Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after buying an additional 975,647 shares during the period. 93.09% of the stock is owned by institutional investors.

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.