Guggenheim Increases Chewy (NYSE:CHWY) Price Target to $32.00

Chewy (NYSE:CHWY) had its price target increased by Guggenheim from $25.00 to $32.00 in a research report sent to investors on Friday morning, Benzinga reports. Guggenheim currently has a buy rating on the stock.

CHWY has been the subject of several other research reports. Jefferies Financial Group reduced their price objective on shares of Chewy from $27.00 to $25.00 and set a buy rating for the company in a research note on Thursday, March 21st. The Goldman Sachs Group reduced their price objective on shares of Chewy from $36.00 to $32.00 and set a buy rating for the company in a research note on Thursday, March 21st. JMP Securities reaffirmed a market outperform rating and issued a $28.00 price objective on shares of Chewy in a research note on Friday, March 15th. Evercore ISI lifted their target price on shares of Chewy from $19.00 to $22.00 and gave the stock an in-line rating in a report on Friday, May 31st. Finally, Raymond James lifted their target price on shares of Chewy from $19.00 to $24.00 and gave the stock an outperform rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $26.50.

Chewy Stock Down 6.6 %

Shares of NYSE:CHWY opened at $25.44 on Friday. The firm has a fifty day moving average of $19.83 and a two-hundred day moving average of $18.98. The firm has a market capitalization of $11.06 billion, a P/E ratio of 141.31, a price-to-earnings-growth ratio of 4.14 and a beta of 1.00. Chewy has a 12-month low of $14.69 and a 12-month high of $39.46.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.11. Chewy had a net margin of 0.73% and a return on equity of 16.62%. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.85 billion. Equities research analysts expect that Chewy will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total value of $499,999,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CTO Satish Mehta sold 8,019 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $121,247.28. Following the transaction, the chief technology officer now directly owns 569,594 shares in the company, valued at $8,612,261.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $28.49, for a total transaction of $499,999,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 17,604,109 shares of company stock worth $500,817,628 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Large investors have recently modified their holdings of the stock. Headinvest LLC acquired a new position in shares of Chewy during the third quarter worth approximately $39,000. Quest Partners LLC bought a new stake in shares of Chewy during the fourth quarter worth approximately $65,000. Signaturefd LLC raised its stake in shares of Chewy by 37.8% during the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after buying an additional 922 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Chewy by 15.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock worth $95,000 after buying an additional 543 shares during the last quarter. Finally, EntryPoint Capital LLC raised its stake in shares of Chewy by 18.0% during the first quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock worth $65,000 after buying an additional 619 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.