Chewy (NYSE:CHWY) Given New $43.00 Price Target at Mizuho

Chewy (NYSE:CHWY) had its target price boosted by Mizuho from $42.00 to $43.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 33.53% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Chewy from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a report on Thursday. Guggenheim set a $42.00 price objective on Chewy and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Morgan Stanley lifted their target price on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price target on shares of Chewy in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chewy has a consensus rating of “Moderate Buy” and an average price target of $38.68.

Chewy Price Performance

NYSE CHWY opened at $32.20 on Thursday. The company has a market capitalization of $13.11 billion, a P/E ratio of 35.39, a PEG ratio of 2.21 and a beta of 1.23. Chewy has a 12 month low of $14.69 and a 12 month high of $40.09. The company’s 50 day simple moving average is $35.90 and its 200 day simple moving average is $33.17.

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

Insiders Place Their Bets

In other news, CFO David Reeder sold 307,558 shares of Chewy stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $37.48, for a total value of $11,527,273.84. Following the transaction, the chief financial officer now owns 546,257 shares of the company’s stock, valued at $20,473,712.36. This trade represents a 36.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the business’s stock in a transaction 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. Insiders sold 8,083,269 shares of company stock valued at $290,611,129 over the last quarter. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CHWY. Vanguard Group Inc. boosted its holdings in Chewy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock valued at $485,093,000 after acquiring an additional 3,493,926 shares during the period. FMR LLC boosted its stake in Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after purchasing an additional 2,497,689 shares during the period. Durable Capital Partners LP acquired a new stake in Chewy in the 4th quarter valued at approximately $79,050,000. Invesco Ltd. increased its position in Chewy by 4,577.5% in the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock worth $73,381,000 after buying an additional 2,144,302 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Chewy during the fourth quarter worth approximately $69,789,000. 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.