Guggenheim Boosts Chewy (NYSE:CHWY) Price Target to $32.00

Chewy (NYSE:CHWY) had its target price increased by Guggenheim from $25.00 to $32.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Chewy from $35.00 to $22.00 and set an outperform rating for the company in a research report on Friday, March 22nd. The Goldman Sachs Group dropped their price target on Chewy from $36.00 to $32.00 and set a buy rating on the stock in a research note on Thursday, March 21st. Citigroup reduced their price objective on Chewy from $18.00 to $16.00 and set a neutral rating for the company in a research report on Tuesday, May 7th. Morgan Stanley increased their price objective on Chewy from $27.00 to $28.00 and gave the stock an overweight rating in a report on Thursday, May 30th. Finally, Evercore ISI boosted their target price on Chewy from $19.00 to $22.00 and gave the company an in-line rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $26.50.

Chewy Stock Down 6.2 %

Shares of CHWY stock opened at $27.24 on Friday. Chewy has a 12-month low of $14.69 and a 12-month high of $39.78. The firm has a fifty day moving average of $19.83 and a 200-day moving average of $18.98. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of 151.33, a price-to-earnings-growth ratio of 4.14 and a beta of 1.00.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.11. Chewy had a return on equity of 16.62% and a net margin of 0.73%. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.85 billion. Research analysts expect that Chewy will post 0.22 earnings per share for the current year.

Insider Transactions at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total value of $499,999,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Sumit Singh sold 6,728 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 129,991 shares of the company’s stock, valued at $2,018,760.23. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $28.49, for a total transaction of $499,999,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,618,862 shares of company stock worth $501,046,742. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Chewy by 15.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock valued at $95,000 after buying an additional 543 shares during the period. EntryPoint Capital LLC grew its holdings in shares of Chewy by 18.0% during the 1st 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. B. Riley Wealth Advisors Inc. increased its position in shares of Chewy by 3.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock worth $451,000 after purchasing an additional 870 shares during the period. Signaturefd LLC increased its position in shares of Chewy by 37.8% in 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. Finally, Liberty One Investment Management LLC raised its stake in Chewy by 23.7% in the fourth quarter. Liberty One Investment Management LLC now owns 6,483 shares of the company’s stock valued at $153,000 after purchasing an additional 1,241 shares in the last quarter. Institutional investors and hedge funds 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.