Chewy (NYSE:CHWY - Free Report) had its target price decreased by JPMorgan Chase & Co. from $40.00 to $36.00 in a research report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a "hold" rating on shares of Chewy in a research report on Thursday, March 27th. Guggenheim set a $42.00 target price on shares of Chewy and gave the company a "buy" rating in a report on Tuesday, February 4th. Argus upgraded Chewy from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. JMP Securities reiterated a "market outperform" rating and issued a $37.00 price objective on shares of Chewy in a report on Monday, December 16th. Finally, Mizuho lifted their target price on Chewy from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Thursday, March 27th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Chewy currently has an average rating of "Moderate Buy" and an average target price of $38.47.
Get Our Latest Analysis on CHWY
Chewy Stock Up 6.6 %
Shares of Chewy stock traded up $2.16 during mid-day trading on Tuesday, hitting $34.74. The stock had a trading volume of 7,821,089 shares, compared to its average volume of 7,478,083. The firm has a 50-day moving average of $34.54 and a two-hundred day moving average of $33.36. The firm has a market cap of $14.37 billion, a P/E ratio of 38.17, a price-to-earnings-growth ratio of 2.21 and a beta of 1.68. Chewy has a 12-month low of $14.69 and a 12-month high of $40.09.
Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the business posted $0.07 earnings per share. The firm's revenue for the quarter was up 15.0% compared to the same quarter last year. Sell-side analysts expect that Chewy will post 0.24 earnings per share for the current year.
Insider Activity at Chewy
In related news, CEO Sumit Singh sold 9,285 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total transaction of $371,400.00. Following the transaction, the chief executive officer now owns 489,750 shares in the company, valued at $19,590,000. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Satish Mehta sold 71,365 shares of Chewy stock in a transaction that occurred on Thursday, March 6th. The stock was 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 in the company, valued at approximately $9,357,566.80. This trade represents a 21.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 837,538 shares of company stock valued at $31,310,938 in the last ninety days. Insiders own 2.10% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC boosted its stake in shares of Chewy by 150.2% during the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock worth $26,000 after buying an additional 473 shares during the period. Banque Transatlantique SA purchased a new stake in Chewy during the 4th quarter valued at approximately $30,000. Fifth Third Bancorp lifted its position in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after acquiring an additional 444 shares during the period. Blue Trust Inc. grew its stake in shares of Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock valued at $58,000 after purchasing an additional 320 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Chewy in the third quarter valued at approximately $63,000. 93.09% of the stock is owned by hedge funds and other institutional investors.
About Chewy
(
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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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