Chewy (NYSE:CHWY) Price Target Raised to $40.00 at JPMorgan Chase & Co.

Chewy (NYSE:CHWY) had its price target boosted by JPMorgan Chase & Co. from $38.00 to $40.00 in a research report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts have also issued reports on the stock. BNP Paribas lowered shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Morgan Stanley upped their price target on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group lifted their target price on shares of Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.68.

Chewy Price Performance

NYSE CHWY opened at $32.68 on Thursday. Chewy has a 12 month low of $14.69 and a 12 month high of $40.09. The company has a market capitalization of $13.31 billion, a P/E ratio of 35.91, a PEG ratio of 2.21 and a beta of 1.23. The company’s 50 day simple moving average is $36.00 and its 200 day simple moving average is $33.13.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.25. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, analysts anticipate that Chewy will post 0.24 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Satish Mehta sold 71,365 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the sale, the chief technology officer now directly owns 262,853 shares of the company’s stock, valued at approximately $9,357,566.80. This trade represents a 21.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 191,096 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.68, for a total value of $6,818,305.28. Following the transaction, the chief executive officer now directly owns 707,126 shares of the company’s stock, valued at $25,230,255.68. This represents a 21.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,083,269 shares of company stock worth $290,611,129 in the last quarter. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chewy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Chewy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock valued at $485,093,000 after purchasing an additional 3,493,926 shares during the last quarter. FMR LLC raised its position in shares of Chewy by 166.8% during the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after buying an additional 2,497,689 shares during the last quarter. Durable Capital Partners LP acquired a new position in shares of Chewy during the fourth quarter valued at about $79,050,000. Invesco Ltd. lifted its stake in shares of Chewy by 4,577.5% in the fourth quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock valued at $73,381,000 after buying an additional 2,144,302 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Chewy during the fourth quarter worth about $69,789,000. 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.