The Goldman Sachs Group Forecasts Strong Price Appreciation for Chewy (NYSE:CHWY) Stock

Chewy (NYSE:CHWY) had its price target raised by The Goldman Sachs Group from $35.00 to $40.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Robert W. Baird boosted their target price on Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. lifted their price target on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Needham & Company LLC restated a “hold” rating on shares of Chewy in a report on Thursday. TD Cowen began coverage on shares of Chewy in a research note on Wednesday, October 9th. They set a “buy” rating and a $38.00 target price on the stock. Finally, Evercore ISI boosted their price target on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chewy has an average rating of “Moderate Buy” and an average target price of $34.15.

Chewy Stock Down 7.2 %

Shares of CHWY opened at $31.07 on Thursday. The stock has a market capitalization of $12.99 billion, a P/E ratio of 37.88, a PEG ratio of 3.15 and a beta of 1.12. Chewy has a twelve month low of $14.69 and a twelve month high of $39.10. The firm has a fifty day simple moving average of $30.42 and a two-hundred day simple moving average of $27.06.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. The company had revenue of $2.89 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%. Chewy’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) earnings per share. Sell-side analysts expect that Chewy will post 0.33 EPS for the current fiscal year.

Insider Activity at Chewy

In related news, CTO Satish Mehta sold 8,056 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the transaction, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at approximately $19,612,148.14. This represents a 1.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,128,804 shares of company stock valued at $827,019,626. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Chewy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 1620 Investment Advisors Inc. purchased a new position in shares of Chewy during the second quarter valued at approximately $33,000. Blue Trust Inc. grew its position in Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares during the period. Industrial Alliance Investment Management Inc. purchased a new stake in Chewy during the 2nd quarter valued at $44,000. First Horizon Advisors Inc. bought a new position in shares of Chewy during the 2nd quarter valued at $48,000. Finally, Planning Capital Management Corp purchased a new position in shares of Chewy in the 3rd quarter worth $52,000. Institutional investors 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.