Chewy (NYSE:CHWY) PT Raised to $35.00 at Wedbush

Chewy (NYSE:CHWY) had its target price hoisted by Wedbush from $28.00 to $35.00 in a research note issued to investors on Thursday morning, Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other analysts also recently weighed in on CHWY. Jefferies Financial Group decreased their target price on Chewy from $27.00 to $25.00 and set a buy rating for the company in a research report on Thursday, March 21st. Piper Sandler upped their target price on shares of Chewy from $16.00 to $22.00 and gave the stock a neutral rating in a research note on Thursday, May 30th. Raymond James lifted their price target on shares of Chewy from $19.00 to $24.00 and gave the company an outperform rating in a research note on Thursday, May 30th. Needham & Company LLC boosted their price target on Chewy from $25.00 to $30.00 and gave the company a buy rating in a report on Wednesday, May 29th. Finally, Evercore ISI raised their price objective on Chewy from $19.00 to $22.00 and gave the stock an in-line rating in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $26.50.

Chewy Price Performance

Chewy stock opened at $27.24 on Thursday. The firm has a market capitalization of $11.85 billion, a P/E ratio of 151.33, a price-to-earnings-growth ratio of 4.14 and a beta of 1.00. Chewy has a 1-year low of $14.69 and a 1-year high of $39.78. The company’s 50-day moving average is $19.83 and its 200 day moving average is $18.98.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, May 29th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. Chewy had a return on equity of 16.62% and a net margin of 0.73%. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Research analysts anticipate that Chewy will post 0.22 earnings per share for the current fiscal year.

Insider Transactions at Chewy

In other 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 stock was sold at an average price of $28.49, for a total transaction of $499,999,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Sumit Singh sold 46,090 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $696,880.80. Following the completion of the transaction, the chief executive officer now owns 1,379,100 shares in the company, valued at approximately $20,851,992. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of Chewy stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $28.49, for a total value of $499,999,500.00. The disclosure for this sale can be found here. Insiders sold 17,618,862 shares of company stock valued at $501,046,742 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. lifted its position in Chewy by 16.8% during the fourth quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock valued at $436,748,000 after purchasing an additional 2,654,376 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Chewy during the 4th quarter valued at about $42,223,000. Vanguard Group Inc. lifted its holdings in shares of Chewy by 13.5% in the 4th quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock valued at $226,959,000 after buying an additional 1,140,269 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Chewy by 127.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock worth $27,328,000 after buying an additional 963,540 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in Chewy by 141.2% during the third quarter. Qube Research & Technologies Ltd now owns 1,188,823 shares of the company’s stock worth $21,708,000 after acquiring an additional 695,907 shares during the period. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

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.