Chewy (NYSE:CHWY) Given New $28.00 Price Target at JPMorgan Chase & Co.

Chewy (NYSE:CHWY) had its price target hoisted by equities research analysts at JPMorgan Chase & Co. from $22.00 to $28.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 27.21% from the company’s previous close.

Several other research firms have also recently commented on CHWY. The Goldman Sachs Group lowered their target price on Chewy from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. JMP Securities reaffirmed a “market outperform” rating and set a $28.00 target price on shares of Chewy in a research note on Friday, March 15th. Piper Sandler boosted their price target on shares of Chewy from $16.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday. UBS Group increased their target price on shares of Chewy from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Royal Bank of Canada decreased their price target on shares of Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.07.

Chewy Stock Performance

Shares of CHWY traded up $0.51 during midday trading on Thursday, hitting $22.01. 11,997,267 shares of the stock traded hands, compared to its average volume of 9,257,874. The business’s 50 day moving average price is $16.30 and its two-hundred day moving average price is $18.23. The firm has a market capitalization of $9.57 billion, a PE ratio of 274.91, a price-to-earnings-growth ratio of 8.62 and a beta of 0.91. Chewy has a 1-year low of $14.69 and a 1-year high of $40.78.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.09. Chewy had a net margin of 0.33% and a return on equity of 11.69%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. As a group, equities research analysts forecast that Chewy will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Chewy

In other Chewy news, CEO Sumit Singh sold 6,728 shares of Chewy stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total value of $104,485.84. Following the transaction, the chief executive officer now directly owns 129,991 shares of the company’s stock, valued at approximately $2,018,760.23. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CTO Satish Mehta sold 8,019 shares of Chewy stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total transaction of $121,247.28. Following the sale, the chief technology officer now directly owns 569,594 shares of the company’s stock, valued at $8,612,261.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sumit Singh sold 6,728 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $104,485.84. Following the completion of the transaction, the chief executive officer now directly owns 129,991 shares of the company’s stock, valued at approximately $2,018,760.23. The disclosure for this sale can be found here. Insiders sold 69,993 shares of company stock worth $1,067,363 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Institutional investors have recently modified their holdings of the company. Headinvest LLC acquired a new stake in Chewy during the third quarter worth $39,000. Quest Partners LLC acquired a new stake in shares of Chewy during the 4th quarter valued at about $65,000. Future Financial Wealth Managment LLC bought a new stake in Chewy in the first quarter valued at about $65,000. EntryPoint Capital LLC raised its position in Chewy by 18.0% in the first quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock worth $65,000 after purchasing an additional 619 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Chewy by 37.8% during the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after purchasing an additional 922 shares during the period. Institutional investors and hedge funds 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.