Chewy (NYSE:CHWY) Given New $29.00 Price Target at Evercore ISI

Chewy (NYSE:CHWY) had its target price boosted by Evercore ISI from $22.00 to $29.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

A number of other analysts have also weighed in on the stock. Argus lowered shares of Chewy from a buy rating to a hold rating in a research note on Tuesday, July 9th. Bank of America raised their price objective on shares of Chewy from $18.50 to $20.00 and gave the company an underperform rating in a research note on Friday, August 16th. Wolfe Research began coverage on shares of Chewy in a research note on Tuesday, July 16th. They set a peer perform rating for the company. Morgan Stanley raised their price objective on shares of Chewy from $28.00 to $30.00 and gave the company an overweight rating in a research note on Monday. Finally, Piper Sandler began coverage on shares of Chewy in a research report on Friday, August 23rd. They issued an overweight rating and a $35.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $27.90.

Chewy Price Performance

Shares of Chewy stock opened at $28.74 on Wednesday. The company has a 50-day moving average of $25.50 and a 200 day moving average of $20.36. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of 159.56, a PEG ratio of 3.48 and a beta of 1.03. Chewy has a 1 year low of $14.69 and a 1 year high of $39.10.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.11. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.85 billion. Chewy had a net margin of 0.73% and a return on equity of 16.62%. On average, equities analysts anticipate that Chewy will post 0.23 EPS for the current year.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the completion of the transaction, the chief executive officer now directly owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the transaction, the chief executive officer now owns 1,398,271 shares in the company, valued at $31,097,547.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of Chewy stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $30.32, for a total value of $40,576,103.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,906,141 shares of company stock worth $540,973,233. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. 1620 Investment Advisors Inc. bought a new stake in Chewy in the second quarter worth $33,000. Industrial Alliance Investment Management Inc. bought a new stake in Chewy in the second quarter worth $44,000. First Horizon Advisors Inc. bought a new stake in Chewy in the second quarter worth $48,000. Skylands Capital LLC bought a new stake in Chewy in the second quarter worth $52,000. Finally, Quest Partners LLC bought a new stake in Chewy in the fourth quarter worth $65,000. 93.09% of the stock is currently 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.