Chewy (NYSE:CHWY) Given New $44.00 Price Target at Barclays

Chewy (NYSE:CHWY) had its price target increased by Barclays from $40.00 to $44.00 in a report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently weighed in on CHWY. Evercore ISI upgraded shares of Chewy from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $34.00 to $47.00 in a research report on Monday, January 13th. Wedbush reissued an “outperform” rating and issued a $39.00 price target on shares of Chewy in a report on Monday, March 17th. UBS Group lifted their price objective on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Guggenheim set a $42.00 target price on Chewy and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada lifted their price target on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Chewy presently has an average rating of “Moderate Buy” and an average target price of $38.68.

Chewy Price Performance

NYSE CHWY opened at $32.20 on Thursday. The company’s 50 day simple moving average is $35.90 and its two-hundred day simple moving average is $33.21. The stock has a market capitalization of $13.11 billion, a PE ratio of 35.39, a P/E/G ratio of 2.21 and a beta of 1.23. Chewy has a 1 year low of $14.69 and a 1 year high of $40.09.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter last year, the business posted $0.07 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, research analysts anticipate that Chewy will post 0.24 EPS for the current year.

Insider Activity at Chewy

In other Chewy news, CEO Sumit Singh sold 191,096 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.68, for a total transaction of $6,818,305.28. Following the transaction, the chief executive officer now owns 707,126 shares in the company, valued at approximately $25,230,255.68. This represents a 21.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Satish Mehta sold 71,365 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the transaction, the chief technology officer now directly owns 262,853 shares of the company’s stock, valued at $9,357,566.80. This represents a 21.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,083,269 shares of company stock worth $290,611,129 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Chewy by 1.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock valued at $661,000 after purchasing an additional 301 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after buying an additional 444 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Chewy by 8.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company’s stock worth $189,000 after buying an additional 450 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its position in Chewy by 30.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company’s stock worth $94,000 after buying an additional 650 shares during the last quarter. 93.09% of the stock is currently 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.