Brokerages Set Chewy, Inc. (NYSE:CHWY) Target Price at $29.11

Shares of Chewy, Inc. (NYSE:CHWY) have received an average recommendation of “Moderate Buy” from the twenty-one research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $29.11.

CHWY has been the subject of several research reports. Guggenheim boosted their price objective on shares of Chewy from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Piper Sandler reiterated an “overweight” rating and set a $35.00 price objective on shares of Chewy in a research note on Friday, September 20th. Mizuho boosted their price objective on shares of Chewy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, June 10th. Argus lowered Chewy from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price target on Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 29th.

Chewy Price Performance

Chewy stock opened at $29.96 on Friday. The firm has a market capitalization of $13.03 billion, a P/E ratio of 166.44, a price-to-earnings-growth ratio of 2.98 and a beta of 1.04. Chewy has a 1-year low of $14.69 and a 1-year high of $39.10. The company’s 50-day moving average is $26.92 and its 200 day moving average is $22.32.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The firm had revenue of $2.86 billion for 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 fiscal year.

Insiders Place Their Bets

In other news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $29.40, for a total value of $789,999,991.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Chewy news, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $318,877.12. Following the sale, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $29.40, for a total value of $789,999,991.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,888,627 shares of company stock valued at $790,397,620. 2.10% of the stock is owned by company insiders.

Institutional Trading of Chewy

A number of hedge funds have recently modified their holdings of the stock. EntryPoint Capital LLC grew its position in Chewy by 18.0% during the first quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after buying an additional 619 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of Chewy by 3.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock valued at $451,000 after purchasing an additional 870 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Chewy by 10.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock worth $308,000 after purchasing an additional 1,029 shares during the period. 1620 Investment Advisors Inc. purchased a new position in Chewy during the second quarter worth approximately $33,000. Finally, Camelot Portfolios LLC grew its holdings in Chewy by 14.0% in the first quarter. Camelot Portfolios LLC now owns 10,200 shares of the company’s stock valued at $162,000 after purchasing an additional 1,249 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.

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.