Chewy, Inc. (NYSE:CHWY) Receives $36.80 Consensus PT from Brokerages

Shares of Chewy, Inc. (NYSE:CHWY - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twenty-three research firms that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $36.80.

Several analysts have issued reports on the company. Argus raised Chewy from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Evercore ISI upgraded Chewy from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $34.00 to $47.00 in a research note on Monday, January 13th. Piper Sandler raised their price target on shares of Chewy from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Chewy from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Finally, TD Cowen initiated coverage on shares of Chewy in a research report on Wednesday, October 9th. They issued a "buy" rating and a $38.00 target price for the company.

Chewy Price Performance

NYSE:CHWY opened at $38.95 on Thursday. The business's 50-day simple moving average is $34.99 and its 200-day simple moving average is $30.50. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $40.09. The stock has a market capitalization of $15.86 billion, a PE ratio of 42.80, a price-to-earnings-growth ratio of 4.36 and a beta of 1.10.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings results 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 net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.86 billion. During the same quarter in the prior year, the company earned ($0.08) earnings per share. The business's quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts expect that Chewy will post 0.24 earnings per share for the current year.

Insider Buying and Selling

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Satish Mehta sold 8,056 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,196,437 shares of company stock valued at $920,170,901 over the last quarter. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Chewy

Several institutional investors have recently made changes to their positions in CHWY. Eagle Asset Management Inc. increased its position in Chewy by 97.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company's stock valued at $60,485,000 after buying an additional 975,647 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Chewy during the second quarter valued at approximately $673,000. Centiva Capital LP bought a new stake in shares of Chewy during the third quarter valued at approximately $2,949,000. Geode Capital Management LLC lifted its holdings in shares of Chewy by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company's stock worth $45,443,000 after purchasing an additional 119,633 shares in the last quarter. Finally, Simplify Asset Management Inc. acquired a new stake in Chewy in the 3rd quarter valued at $5,379,000. 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.

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