Morgan Stanley Raises Chewy (NYSE:CHWY) Price Target to $36.00

Chewy (NYSE:CHWY) had its price objective boosted by equities research analysts at Morgan Stanley from $33.00 to $36.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 5.73% from the stock’s previous close.

Several other equities research analysts also recently issued reports on CHWY. Raymond James downgraded shares of Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Evercore ISI upped their target price on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Royal Bank of Canada upped their target price on shares of Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler restated an “overweight” rating and issued a $35.00 target price on shares of Chewy in a research note on Friday, September 20th. Finally, TD Cowen assumed coverage on shares of Chewy in a research note on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price for the company. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Chewy has a consensus rating of “Moderate Buy” and a consensus target price of $32.35.

Chewy Stock Down 1.6 %

CHWY opened at $34.05 on Monday. Chewy has a 52-week low of $14.69 and a 52-week high of $39.10. The company has a 50 day moving average of $29.99 and a two-hundred day moving average of $26.39. The company has a market cap of $14.24 billion, a P/E ratio of 41.52, a P/E/G ratio of 3.36 and a beta of 1.06.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share (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 the consensus estimate of $2.86 billion. Research analysts anticipate that Chewy will post 0.32 earnings per share for the current 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 on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Chewy

A number of institutional investors and hedge funds have recently modified their holdings of CHWY. 1620 Investment Advisors Inc. acquired a new stake in shares of Chewy during the second quarter worth $33,000. Blue Trust Inc. grew its position in shares of Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after acquiring an additional 905 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new position in shares of Chewy during the second quarter worth about $44,000. First Horizon Advisors Inc. bought a new position in shares of Chewy during the second quarter worth about $48,000. Finally, Skylands Capital LLC bought a new position in shares of Chewy during the second quarter worth about $52,000. 93.09% of the stock is owned by institutional investors and hedge funds.

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.