Analysts Set Chewy, Inc. (NYSE:CHWY) Price Target at $34.15

Shares of Chewy, Inc. (NYSE:CHWY) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $34.15.

A number of equities analysts have weighed in on CHWY shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Robert W. Baird upped their price target on shares of Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Royal Bank of Canada lifted their price objective on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. The Goldman Sachs Group increased their target price on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Barclays lifted their price target on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th.

Insider Activity at Chewy

In other Chewy news, CTO Satish Mehta sold 8,056 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the sale, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at approximately $19,612,148.14. This represents a 1.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $31.32, for a total transaction of $620,989,219.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,956,046 shares of company stock worth $1,448,008,845. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new position in Chewy during the 2nd quarter worth approximately $11,916,000. Cetera Advisors LLC purchased a new position in shares of Chewy during the first quarter worth approximately $334,000. Sanctuary Advisors LLC acquired a new position in shares of Chewy in the 2nd quarter valued at $673,000. Eagle Asset Management Inc. raised its position in Chewy by 97.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after purchasing an additional 975,647 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after purchasing an additional 2,636,526 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Stock Performance

Shares of CHWY opened at $32.26 on Wednesday. The business’s 50-day moving average is $30.73 and its two-hundred day moving average is $27.82. The company has a market capitalization of $13.49 billion, a P/E ratio of 35.45, a P/E/G ratio of 4.28 and a beta of 1.12. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $39.10.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter last year, the company earned ($0.08) EPS. The business’s revenue was up 5.2% on a year-over-year basis. Analysts forecast that Chewy will post 0.24 EPS for the current year.

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.