Chewy, Inc. (NYSE:CHWY) Receives $29.11 Average Price Target from Brokerages

Shares of Chewy, Inc. (NYSE:CHWY) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $29.11.

A number of analysts have recently weighed in on the stock. Guggenheim increased their target price on shares of Chewy from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 28th. UBS Group increased their target price on shares of Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Mizuho increased their target price on shares of Chewy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, June 10th. Barclays increased their target price on shares of Chewy from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. 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.

Insider Buying and Selling at Chewy

In other Chewy news, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were 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 $31,097,547.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the sale, the chief executive officer now directly 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. Over the last quarter, insiders sold 26,888,627 shares of company stock valued at $790,397,620. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Institutional investors and hedge funds have recently made changes to their positions in the company. 1620 Investment Advisors Inc. purchased a new stake in Chewy in the second quarter worth approximately $33,000. Industrial Alliance Investment Management Inc. purchased a new stake in Chewy in the second quarter worth approximately $44,000. First Horizon Advisors Inc. purchased a new stake in Chewy in the second quarter worth approximately $48,000. Skylands Capital LLC purchased a new stake in Chewy in the second quarter worth approximately $52,000. Finally, Quest Partners LLC purchased a new stake in Chewy in the fourth quarter worth approximately $65,000. Institutional investors own 93.09% of the company’s stock.

Chewy Stock Up 0.2 %

NYSE CHWY opened at $29.36 on Friday. The company has a 50-day simple moving average of $27.10 and a two-hundred day simple moving average of $22.49. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of 163.11, a PEG ratio of 2.98 and a beta of 1.04.

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

About Chewy

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.