Chewy (NYSE:CHWY) Given New $45.00 Price Target at The Goldman Sachs Group

Chewy (NYSE:CHWY) had its price target raised by The Goldman Sachs Group from $40.00 to $45.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Wolfe Research upgraded Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $34.00 to $47.00 in a research note on Monday, January 13th. JPMorgan Chase & Co. raised their price objective on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday. Mizuho raised shares of Chewy from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $24.00 to $42.00 in a research report on Monday, January 6th. Finally, UBS Group lifted their price target on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.68.

Chewy Stock Down 1.7 %

NYSE:CHWY opened at $32.68 on Thursday. The firm’s fifty day simple moving average is $36.00 and its 200 day simple moving average is $33.13. The stock 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. Chewy has a twelve month low of $14.69 and a twelve month high of $40.09.

Chewy (NYSE:CHWY) last announced its earnings results 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 net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the previous year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, analysts expect that Chewy will post 0.24 EPS for the current fiscal year.

Insider Activity

In other Chewy news, CTO Satish Mehta sold 168,105 shares of Chewy stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $36.32, for a total value of $6,105,573.60. Following the completion of the sale, the chief technology officer now owns 417,857 shares of the company’s stock, valued at approximately $15,176,566.24. The trade was a 28.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 191,096 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.68, for a total transaction of $6,818,305.28. Following the sale, the chief executive officer now owns 707,126 shares of the company’s stock, valued at approximately $25,230,255.68. This represents a 21.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,083,269 shares of company stock valued at $290,611,129 over the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Chewy

Several large investors have recently modified their holdings of CHWY. Mutual of America Capital Management LLC bought a new position in Chewy in the fourth quarter valued at about $2,915,000. Centiva Capital LP bought a new position in shares of Chewy in the 3rd quarter worth approximately $2,949,000. Raymond James Financial Inc. bought a new position in shares of Chewy in the 4th quarter worth approximately $69,789,000. Geode Capital Management LLC grew its position in Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after buying an additional 119,633 shares during the period. Finally, Birch Hill Investment Advisors LLC purchased a new stake in Chewy during the fourth quarter valued at approximately $1,174,000. 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.