Barclays Forecasts Strong Price Appreciation for Chewy (NYSE:CHWY) Stock

Chewy (NYSE:CHWY) had its target price lifted by equities researchers at Barclays from $40.00 to $44.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 36.64% from the stock’s current price.

Other equities analysts have also issued reports about the company. Wolfe Research upgraded Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Argus upgraded shares of Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group raised 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. UBS Group boosted their price target on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $37.00 price target on shares of Chewy in a report on Monday, December 16th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.68.

Chewy Trading Down 1.5 %

Shares of NYSE:CHWY opened at $32.20 on Thursday. The company has a 50 day moving average of $35.90 and a 200 day moving average of $33.17. The stock has a market cap of $13.11 billion, a P/E ratio of 35.39, a P/E/G ratio of 2.21 and a beta of 1.23. Chewy has a 12 month low of $14.69 and a 12 month high of $40.09.

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

Insider Activity

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the completion of the transaction, the chief technology officer now owns 262,853 shares in the company, valued at $9,357,566.80. The trade was a 21.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,083,269 shares of company stock valued at $290,611,129. Insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

A number of institutional investors have recently modified their holdings of the company. California State Teachers Retirement System increased its holdings in Chewy by 16.5% during the 4th quarter. California State Teachers Retirement System now owns 155,785 shares of the company’s stock valued at $5,217,000 after purchasing an additional 22,033 shares during the period. Centaurus Financial Inc. bought a new stake in shares of Chewy in the 4th quarter worth approximately $154,000. Integrated Advisors Network LLC bought a new stake in shares of Chewy in the 4th quarter worth approximately $235,000. Polar Asset Management Partners Inc. increased its stake in shares of Chewy by 26.5% during the fourth quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company’s stock valued at $9,670,000 after buying an additional 60,533 shares during the period. Finally, Mackenzie Financial Corp bought a new position in shares of Chewy during the fourth quarter valued at approximately $318,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

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.