Barclays Issues Positive Forecast for Chewy (NYSE:CHWY) Stock Price

Chewy (NYSE:CHWY) had its target price raised by Barclays from $40.00 to $44.00 in a research report report published on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on CHWY. Morgan Stanley boosted their target price on Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Wedbush restated an “outperform” rating and set a $39.00 price objective on shares of Chewy in a research report on Monday, March 17th. Seaport Res Ptn raised shares of Chewy to a “hold” rating in a research report on Monday. The Goldman Sachs Group boosted their price target on shares of Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. raised their price objective on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.68.

Chewy Trading Down 1.7 %

Shares of NYSE:CHWY opened at $32.68 on Thursday. Chewy has a 52 week low of $14.69 and a 52 week high of $40.09. The company’s 50 day moving average is $36.00 and its two-hundred day moving average is $33.13. The company has a market cap of $13.31 billion, a PE ratio of 35.91, a P/E/G ratio of 2.21 and a beta of 1.23.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.03 by $0.25. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. Chewy’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. As a group, equities research analysts expect that Chewy will post 0.24 EPS for the current year.

Insider Activity at Chewy

In other news, CTO Satish Mehta sold 83,639 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $40.00, for a total transaction of $3,345,560.00. Following the transaction, the chief technology officer now directly owns 334,218 shares of the company’s stock, valued at $13,368,720. This represents a 20.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sumit Singh sold 4,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $37.52, for a total transaction of $150,080.00. Following the completion of the sale, the chief executive officer now owns 518,581 shares of the company’s stock, valued at $19,457,159.12. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,083,269 shares of company stock worth $290,611,129 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Banque Transatlantique SA acquired a new stake in shares of Chewy in the 4th quarter worth approximately $30,000. Fifth Third Bancorp boosted its position in Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares in the last quarter. Blue Trust Inc. grew its holdings in Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares during the last quarter. Allworth Financial LP increased its position in shares of Chewy by 52.0% in the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after buying an additional 650 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in shares of Chewy in the fourth quarter valued at $67,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.