Barclays Raises Chewy (NYSE:CHWY) Price Target to $40.00

Chewy (NYSE:CHWY - Get Free Report) had its price target lifted by stock analysts at Barclays from $34.00 to $40.00 in a report released on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's target price would indicate a potential upside of 25.59% from the company's previous close.

A number of other equities research analysts have also recently commented on the company. Morgan Stanley raised their price objective on Chewy from $28.00 to $30.00 and gave the company an "overweight" rating in a research note on Monday, August 26th. Bank of America boosted their price target on shares of Chewy from $20.00 to $24.00 and gave the company an "underperform" rating in a research note on Thursday, August 29th. Robert W. Baird lifted their price objective on shares of Chewy from $26.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, August 20th. Piper Sandler restated an "overweight" rating and issued a $35.00 target price on shares of Chewy in a report on Friday, September 20th. Finally, Raymond James lowered Chewy from an "outperform" rating to a "market perform" rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.45.

Chewy Price Performance

Shares of NYSE:CHWY traded up $0.14 during mid-day trading on Monday, hitting $31.85. The company had a trading volume of 2,443,804 shares, compared to its average volume of 8,771,260. The company has a market capitalization of $13.32 billion, a PE ratio of 39.04, a price-to-earnings-growth ratio of 3.16 and a beta of 1.06. Chewy has a one year low of $14.69 and a one year high of $39.10. The firm has a fifty day moving average price of $29.46 and a 200 day moving average price of $25.49.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. Research analysts expect that Chewy will post 0.32 earnings per share for the current fiscal year.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chewy

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Chewy by 8.4% in the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company's stock worth $45,443,000 after buying an additional 119,633 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in Chewy by 19.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 58,661 shares of the company's stock valued at $1,718,000 after purchasing an additional 9,548 shares in the last quarter. CTC Alternative Strategies Ltd. bought a new stake in Chewy during the third quarter valued at approximately $208,000. Wellington Management Group LLP grew its stake in Chewy by 22.0% in the 3rd quarter. Wellington Management Group LLP now owns 921,741 shares of the company's stock worth $26,998,000 after buying an additional 166,187 shares in the last quarter. Finally, Taika Capital LP bought a new position in shares of Chewy in the 3rd quarter worth $1,758,000. 93.09% of the stock is 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.