Bank of America Increases Chewy (NYSE:CHWY) Price Target to $20.00

Chewy (NYSE:CHWY) had its price objective hoisted by Bank of America from $18.50 to $20.00 in a research report released on Friday, Benzinga reports. Bank of America currently has an underperform rating on the stock.

Several other research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Chewy from $18.00 to $20.00 and gave the stock a hold rating in a report on Thursday, May 30th. Piper Sandler lifted their price target on Chewy from $16.00 to $22.00 and gave the company a neutral rating in a research report on Thursday, May 30th. Wolfe Research began coverage on Chewy in a research note on Tuesday, July 16th. They set a peer perform rating on the stock. Argus downgraded Chewy from a buy rating to a hold rating in a research note on Tuesday, July 9th. Finally, Mizuho upped their price target on Chewy from $18.00 to $20.00 and gave the company a neutral rating in a research report on Monday, June 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $27.24.

Chewy Stock Up 0.6 %

Chewy stock opened at $27.27 on Friday. The firm has a 50 day moving average price of $25.12 and a 200-day moving average price of $19.96. Chewy has a twelve month low of $14.69 and a twelve month high of $39.10. The company has a market capitalization of $11.86 billion, a P/E ratio of 151.50, a P/E/G ratio of 3.48 and a beta of 1.03.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. Equities analysts expect that Chewy will post 0.23 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the transaction, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $30.32, for a total value of $40,576,103.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the sale, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The disclosure for this sale can be found here. Insiders sold 18,906,141 shares of company stock worth $540,973,233 in the last quarter. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Chewy

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in shares of Chewy by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 667,247 shares of the company’s stock worth $15,767,000 after acquiring an additional 39,301 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in Chewy in the fourth quarter worth $339,000. Russell Investments Group Ltd. lifted its position in Chewy by 27.7% during the first quarter. Russell Investments Group Ltd. now owns 86,542 shares of the company’s stock valued at $1,355,000 after buying an additional 18,768 shares during the period. Jump Financial LLC boosted its holdings in shares of Chewy by 356.6% during the 4th quarter. Jump Financial LLC now owns 164,569 shares of the company’s stock valued at $3,889,000 after buying an additional 128,525 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Chewy by 127.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock worth $27,328,000 after buying an additional 963,540 shares during the period. 93.09% of the stock is owned by institutional investors.

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.