Chewy (NYSE:CHWY) Price Target Raised to $44.00

Chewy (NYSE:CHWY) had its target price upped by Royal Bank of Canada from $42.00 to $44.00 in a research report report published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also issued reports on CHWY. Evercore ISI increased their price target on Chewy from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday. Seaport Res Ptn upgraded shares of Chewy to a “hold” rating in a research report on Monday, March 24th. Citigroup boosted their target price on Chewy from $42.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday. Guggenheim boosted their price objective on Chewy from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on shares of Chewy from $36.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.72.

Chewy Price Performance

CHWY opened at $41.62 on Thursday. Chewy has a 12 month low of $19.75 and a 12 month high of $48.62. The stock’s 50 day moving average price is $39.84 and its 200 day moving average price is $36.66. The stock has a market cap of $17.22 billion, a P/E ratio of 45.74, a P/E/G ratio of 2.21 and a beta of 1.75.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Chewy will post 0.24 EPS for the current year.

Insider Transactions at Chewy

In other Chewy news, CFO David Reeder sold 11,582 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $36.44, for a total transaction of $422,048.08. Following the transaction, the chief financial officer now directly owns 397,556 shares of the company’s stock, valued at $14,486,940.64. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sumit Singh sold 8,552 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total value of $285,209.20. Following the completion of the sale, the chief executive officer now directly owns 62,096 shares of the company’s stock, valued at $2,070,901.60. This represents a 12.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 236,046 shares of company stock valued at $9,387,635 in the last three months. Corporate insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Mutual of America Capital Management LLC bought a new stake in Chewy during the fourth quarter worth approximately $2,915,000. Raymond James Financial Inc. bought a new stake in Chewy during the fourth quarter valued at about $69,789,000. Polar Asset Management Partners Inc. increased its stake in shares of Chewy by 26.5% in the fourth quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company’s stock worth $9,670,000 after purchasing an additional 60,533 shares during the period. Interval Partners LP acquired a new position in shares of Chewy during the 4th quarter worth about $1,536,000. Finally, Vanguard Group Inc. boosted 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 period. 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.