Chewy (NYSE:CHWY) Price Target Raised to $42.00

Chewy (NYSE:CHWY) had its price target raised by Royal Bank of Canada from $39.00 to $42.00 in a research note published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

CHWY has been the topic of a number of other research reports. BNP Paribas lowered Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday. Piper Sandler raised their price target on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Barclays raised their price target on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and raised their price objective for the company from $24.00 to $40.00 in a research report on Wednesday, November 20th. Finally, Evercore ISI raised their price objective 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 given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.15.

Chewy Stock Performance

Shares of CHWY stock opened at $31.58 on Thursday. The stock’s 50-day moving average is $30.46 and its two-hundred day moving average is $27.24. The firm has a market cap of $13.20 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 3.14 and a beta of 1.12. Chewy has a 1 year low of $14.69 and a 1 year high of $39.10.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. Chewy had a return on equity of 20.86% and a net margin of 3.51%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same quarter last year, the company posted ($0.08) earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. As a group, research analysts predict that Chewy will post 0.33 EPS for the current year.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Satish Mehta sold 8,056 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the transaction, the chief technology officer now owns 585,962 shares of the company’s stock, valued at $19,612,148.14. This trade represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,128,804 shares of company stock valued at $827,019,626. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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