Barclays Raises Chewy (NYSE:CHWY) Price Target to $40.00

Chewy (NYSE:CHWY) had its target price lifted by Barclays from $34.00 to $40.00 in a research note published on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on CHWY. Morgan Stanley lifted their price objective on Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Wedbush restated an “outperform” rating and set a $35.00 target price on shares of Chewy in a research report on Thursday, August 29th. TD Cowen initiated coverage on shares of Chewy in a research report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price target on the stock. Evercore ISI boosted their price objective on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.25.

Chewy Trading Up 3.2 %

Chewy stock opened at $35.74 on Monday. The company has a market cap of $14.94 billion, a PE ratio of 43.58, a PEG ratio of 3.29 and a beta of 1.06. 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 $29.85 and its two-hundred day moving average is $25.85.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. Research analysts forecast that Chewy will post 0.32 EPS for the current year.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Chewy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new stake in Chewy during the second quarter worth $11,916,000. Russell Investments Group Ltd. lifted its stake in Chewy by 27.7% in the 1st quarter. Russell Investments Group Ltd. now owns 86,542 shares of the company’s stock valued at $1,355,000 after purchasing an additional 18,768 shares during the last quarter. Cetera Advisors LLC bought a new position in Chewy during the first quarter worth about $334,000. Sanctuary Advisors LLC acquired a new position in Chewy during the second quarter worth approximately $673,000. Finally, Bayesian Capital Management LP bought a new stake in Chewy in the first quarter valued at approximately $1,737,000. 93.09% of the stock is owned by 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.