Morgan Stanley Forecasts Strong Price Appreciation for Chewy (NYSE:CHWY) Stock

Chewy (NYSE:CHWY - Free Report) had its target price raised by Morgan Stanley from $38.00 to $40.00 in a research report report published on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on the company. Wolfe Research upgraded Chewy from a "peer perform" rating to an "outperform" rating in a report on Friday, January 3rd. Royal Bank of Canada upped their target price on Chewy from $39.00 to $42.00 and gave the company an "outperform" rating in a research note on Thursday, December 5th. UBS Group raised their price target on Chewy from $30.00 to $34.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upped their price objective on shares of Chewy from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Finally, Robert W. Baird increased their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an "outperform" rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.80.

Chewy Trading Down 1.5 %

Shares of NYSE:CHWY traded down $0.53 on Monday, hitting $35.79. The company had a trading volume of 5,914,347 shares, compared to its average volume of 7,174,360. The company has a market cap of $14.57 billion, a PE ratio of 39.33, a PEG ratio of 4.28 and a beta of 1.10. Chewy has a 52-week low of $14.69 and a 52-week high of $39.10. The business has a 50 day moving average of $33.29 and a 200 day moving average of $29.29.

Chewy (NYSE:CHWY - Get Free Report) last released its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.15. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) EPS. As a group, equities analysts predict that Chewy will post 0.24 EPS for the current year.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Satish Mehta sold 8,056 shares of Chewy 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 sale, the chief technology officer now owns 585,962 shares in the company, valued at $19,612,148.14. This represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,053,806 shares of company stock worth $942,139,713. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CHWY. Commonwealth Equity Services LLC increased its holdings in shares of Chewy by 20.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 48,704 shares of the company's stock valued at $1,327,000 after acquiring an additional 8,228 shares during the last quarter. Choreo LLC bought a new position in shares of Chewy in the 2nd quarter worth about $205,000. American Century Companies Inc. raised its stake in Chewy by 46.0% during the second quarter. American Century Companies Inc. now owns 29,111 shares of the company's stock worth $793,000 after acquiring an additional 9,166 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Chewy during the second quarter worth about $380,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Chewy by 243.6% in the second quarter. Envestnet Asset Management Inc. now owns 165,662 shares of the company's stock worth $4,513,000 after acquiring an additional 117,454 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.