Chewy (NYSE:CHWY) Given New $40.00 Price Target at JPMorgan Chase & Co.

Chewy (NYSE:CHWY) had its target price raised by JPMorgan Chase & Co. from $38.00 to $40.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also issued reports on the company. UBS Group increased their price objective on Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research report on Thursday. BNP Paribas lowered shares of Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. Piper Sandler raised their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Finally, Royal Bank of Canada boosted their target price on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.68.

Chewy Stock Performance

Shares of Chewy stock opened at $32.68 on Thursday. The firm has a market cap of $13.31 billion, a P/E ratio of 35.91, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. The firm’s 50-day simple moving average is $36.00 and its 200-day simple moving average is $33.13. Chewy has a twelve month low of $14.69 and a twelve month high of $40.09.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the previous year, the business earned $0.07 earnings per share. The company’s quarterly revenue was up 15.0% on a year-over-year basis. On average, equities analysts forecast that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 191,096 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.68, for a total value of $6,818,305.28. Following the completion of the sale, the chief executive officer now directly owns 707,126 shares of the company’s stock, valued at $25,230,255.68. This represents a 21.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of Chewy stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.77, for a total transaction of $250,390,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,083,269 shares of company stock worth $290,611,129. Insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Large investors have recently made changes to their positions in the company. Banque Transatlantique SA acquired a new position in Chewy in the fourth quarter valued at about $30,000. Fifth Third Bancorp lifted its holdings in shares of Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after purchasing an additional 444 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Chewy in the 3rd quarter valued at approximately $63,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Chewy during the 4th quarter worth approximately $67,000. Institutional investors own 93.09% of the company’s stock.

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.