Chewy (NYSE:CHWY) Price Target Raised to $40.00

Chewy (NYSE:CHWY) had its price objective lifted by Morgan Stanley from $38.00 to $40.00 in a research report report published on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. Wedbush reiterated an “outperform” rating and set a $39.00 target price (up from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Barclays lifted their price target on shares of Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. UBS Group increased their price objective on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $37.00 target price on shares of Chewy in a research report on Monday, December 16th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $37.38 on Monday. The business’s fifty day moving average price is $33.56 and its two-hundred day moving average price is $29.40. Chewy has a one year low of $14.69 and a one year high of $39.10. The stock has a market cap of $15.22 billion, a PE ratio of 41.08, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the previous year, the business earned ($0.08) EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts predict that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Satish Mehta sold 8,056 shares of the stock in a transaction on Monday, December 2nd. The stock was 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 approximately $19,612,148.14. This represents a 1.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. Insiders sold 27,971,911 shares of company stock worth $911,495,287 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its holdings in Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after buying an additional 905 shares during the period. Planning Capital Management Corp acquired a new stake in shares of Chewy during the third quarter valued at approximately $52,000. Future Financial Wealth Managment LLC acquired a new position in Chewy in the 3rd quarter worth approximately $62,000. Wilmington Savings Fund Society FSB purchased a new position in Chewy during the 3rd quarter worth approximately $63,000. Finally, Castleview Partners LLC acquired a new stake in Chewy during the 3rd quarter valued at $76,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.