Chewy (NYSE:CHWY) Price Target Raised to $42.00

Chewy (NYSE:CHWY) had its price objective hoisted by Royal Bank of Canada from $39.00 to $42.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other brokerages also recently issued reports on CHWY. Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and increased their price target for the company from $28.00 to $40.00 in a report on Friday, November 8th. UBS Group upped their price objective 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. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and upped their price objective for the company from $24.00 to $40.00 in a research report on Wednesday, November 20th. BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday. Finally, Barclays upped their price objective on shares of Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.15.

Chewy Trading Up 1.6 %

Shares of NYSE CHWY opened at $31.58 on Thursday. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10. The company has a market cap of $13.20 billion, a P/E ratio of 34.70, a P/E/G ratio of 3.14 and a beta of 1.12. The stock has a fifty day moving average price of $30.46 and a 200 day moving average price of $27.24.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 20.86% and a net margin of 3.51%. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the prior year, the firm earned ($0.08) EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that Chewy will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Satish Mehta sold 8,056 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the completion of the sale, the chief technology officer now owns 585,962 shares in the company, valued at $19,612,148.14. The trade was a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,128,804 shares of company stock worth $827,019,626 over the last quarter. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chewy

Several large investors have recently made changes to their positions in CHWY. California State Teachers Retirement System increased its stake in shares of Chewy by 2.2% in the first quarter. California State Teachers Retirement System now owns 108,448 shares of the company’s stock valued at $1,725,000 after purchasing an additional 2,321 shares during the period. Cetera Advisors LLC acquired a new stake in shares of Chewy in the first quarter valued at approximately $334,000. SG Americas Securities LLC increased its stake in shares of Chewy by 125.6% in the second quarter. SG Americas Securities LLC now owns 94,838 shares of the company’s stock valued at $2,583,000 after purchasing an additional 52,809 shares during the period. Coastline Trust Co acquired a new stake in shares of Chewy in the second quarter valued at approximately $295,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Chewy by 23.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 23,922 shares of the company’s stock valued at $652,000 after acquiring an additional 4,613 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.