Analysts Set Chewy, Inc. (NYSE:CHWY) Price Target at $36.80

Shares of Chewy, Inc. (NYSE:CHWY - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-three analysts that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $36.80.

A number of research analysts have issued reports on CHWY shares. Needham & Company LLC restated a "hold" rating on shares of Chewy in a research note on Thursday, December 5th. Citigroup upgraded shares of 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 research report on Friday, November 8th. Royal Bank of Canada increased their target price on shares of Chewy from $39.00 to $42.00 and gave the company an "outperform" rating in a research report 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 report on Monday, November 18th. Finally, JMP Securities reissued a "market outperform" rating and issued a $37.00 price objective on shares of Chewy in a report on Monday, December 16th.

Chewy Trading Up 2.2 %

Shares of CHWY traded up $0.85 on Thursday, reaching $39.80. The company's stock had a trading volume of 3,387,617 shares, compared to its average volume of 5,335,775. Chewy has a twelve month low of $14.69 and a twelve month high of $40.09. The stock has a market capitalization of $16.20 billion, a PE ratio of 43.73, a PEG ratio of 4.16 and a beta of 1.10. The firm has a fifty day moving average of $34.83 and a 200-day moving average of $30.35.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.86 billion. During the same period last year, the business earned ($0.08) EPS. The business's revenue was up 5.2% on a year-over-year basis. As a group, equities analysts anticipate that Chewy will post 0.24 EPS for the current fiscal year.

Insider Activity

In related news, CEO Sumit Singh sold 71,161 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the sale, the chief executive officer now directly owns 77,838 shares in the company, valued at $2,529,735. This represents a 47.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Satish Mehta sold 8,056 shares of the business'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 value of $269,634.32. Following the completion of the sale, the chief technology officer now owns 585,962 shares of the company's stock, 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. In the last three months, insiders have sold 28,103,513 shares of company stock worth $916,453,941. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chewy

Large investors have recently made changes to their positions in the business. Fifth Third Bancorp boosted its position in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock valued at $33,000 after acquiring an additional 444 shares in the last quarter. Blue Trust Inc. grew its stake in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company's stock worth $38,000 after purchasing an additional 905 shares during the period. Planning Capital Management Corp bought a new position in Chewy in the third quarter worth $52,000. Future Financial Wealth Managment LLC purchased a new position in Chewy during the third quarter valued at $62,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Chewy during the 3rd quarter valued at $63,000. 93.09% of the stock is currently owned by 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.