Chewy (NYSE:CHWY) PT Raised to $24.00

Chewy (NYSE:CHWY) had its price target lifted by investment analysts at Bank of America from $20.00 to $24.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s target price indicates a potential downside of 15.94% from the company’s current price.

CHWY has been the topic of several other reports. Morgan Stanley lifted their price target on shares of Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Chewy from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Evercore ISI lifted their price target on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday. Wolfe Research began coverage on shares of Chewy in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Raymond James lowered shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.43.

Chewy Stock Down 0.5 %

Shares of CHWY stock opened at $28.55 on Thursday. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of 157.39, a PEG ratio of 3.48 and a beta of 1.03. The company’s 50 day moving average is $25.62 and its 200 day moving average is $20.47. Chewy has a 52-week low of $14.69 and a 52-week high of $39.10.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.85 billion. Analysts anticipate that Chewy will post 0.23 EPS for the current fiscal year.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $30.32, for a total transaction of $40,576,103.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total value of $40,576,103.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the transaction, the chief executive officer now owns 1,398,271 shares of the company’s stock, valued at approximately $31,097,547.04. The disclosure for this sale can be found here. Insiders sold 18,906,141 shares of company stock worth $540,973,233 over the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CHWY. International Assets Investment Management LLC acquired a new position in shares of Chewy in the fourth quarter worth about $13,610,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Chewy by 57.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,278 shares of the company’s stock worth $550,000 after purchasing an additional 8,489 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Chewy by 22.8% during the fourth quarter. New York State Common Retirement Fund now owns 98,558 shares of the company’s stock worth $2,329,000 after purchasing an additional 18,318 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Chewy by 15.3% during the fourth quarter. Russell Investments Group Ltd. now owns 67,774 shares of the company’s stock worth $1,665,000 after purchasing an additional 9,010 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Chewy by 41.6% during the fourth quarter. Victory Capital Management Inc. now owns 81,666 shares of the company’s stock worth $1,930,000 after purchasing an additional 24,004 shares in the last quarter. 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.