Chewy, Inc. (NYSE:CHWY) Receives $36.80 Average Target Price from Brokerages

Shares of Chewy, Inc. (NYSE:CHWY) have been given a consensus rating of “Moderate Buy” by the twenty-three ratings firms that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $36.80.

Several research analysts recently issued reports on the company. Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and upped their target price for the company from $34.00 to $47.00 in a research report on Monday, January 13th. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. UBS Group upped their target price on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group upped their target price on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Barclays upped their target price on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, November 18th.

Chewy Stock Down 2.2 %

Shares of NYSE CHWY opened at $38.10 on Thursday. The business has a fifty day simple moving average of $34.99 and a two-hundred day simple moving average of $30.55. The firm has a market cap of $15.52 billion, a PE ratio of 41.87, a price-to-earnings-growth ratio of 4.36 and a beta of 1.10. Chewy has a twelve month low of $14.69 and a twelve month high of $40.09.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.05 by $0.15. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) EPS. On average, research analysts expect that Chewy will post 0.24 earnings per share for the current year.

Insider Buying and Selling at Chewy

In related news, CEO Sumit Singh sold 71,161 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $32.50, for a total value of $2,312,732.50. Following the transaction, the chief executive officer now owns 77,838 shares in the company, valued at $2,529,735. The trade was a 47.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. Insiders have sold a total of 28,196,437 shares of company stock worth $920,170,901 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

A number of institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its holdings in shares of Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after acquiring an additional 444 shares during the period. Blue Trust Inc. grew its holdings in shares of Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after acquiring an additional 905 shares during the period. Planning Capital Management Corp acquired a new stake in shares of Chewy in the 3rd quarter worth approximately $52,000. Allworth Financial LP grew its holdings in shares of Chewy by 52.0% in the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after acquiring an additional 650 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Chewy in the 3rd quarter worth approximately $62,000. Hedge funds and other institutional investors 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.