Chewy (NYSE:CHWY) Price Target Raised to $40.00 at JPMorgan Chase & Co.

Chewy (NYSE:CHWY - Free Report) had its target price increased by JPMorgan Chase & Co. from $38.00 to $40.00 in a report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on CHWY. Mizuho raised shares of Chewy from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $24.00 to $42.00 in a research report on Monday, January 6th. UBS Group upped their target price on Chewy from $30.00 to $34.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Morgan Stanley lifted their price target on Chewy from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Seaport Res Ptn upgraded Chewy to a "hold" rating in a research note on Monday, March 24th. Finally, BNP Paribas cut Chewy from an "outperform" rating to a "neutral" rating in a research note on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Chewy presently has an average rating of "Moderate Buy" and a consensus price target of $38.68.

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Chewy Trading Up 0.6 %

Shares of CHWY traded up $0.19 during trading hours on Thursday, reaching $32.36. The stock had a trading volume of 1,755,381 shares, compared to its average volume of 7,536,297. Chewy has a 12 month low of $14.69 and a 12 month high of $40.09. The company has a market capitalization of $13.18 billion, a price-to-earnings ratio of 35.38, a P/E/G ratio of 2.21 and a beta of 1.23. The firm has a 50-day simple moving average of $35.90 and a 200 day simple moving average of $33.23.

Chewy (NYSE:CHWY - Get Free Report) last posted its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter last year, the company earned $0.07 earnings per share. The company's revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities analysts forecast that Chewy will post 0.24 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Satish Mehta sold 71,365 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the sale, the chief technology officer now directly owns 262,853 shares in the company, valued at approximately $9,357,566.80. The trade was a 21.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $35.77, for a total value of $250,390,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,083,269 shares of company stock worth $290,611,129 over the last 90 days. Corporate insiders own 2.10% of the company's stock.

Institutional Trading of Chewy

A number of hedge funds and other institutional investors have recently bought and sold shares of CHWY. Wealth Enhancement Advisory Services LLC grew its position in shares of Chewy by 1.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company's stock valued at $661,000 after purchasing an additional 301 shares in the last quarter. Blue Trust Inc. grew its position in Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock worth $58,000 after buying an additional 320 shares in the last quarter. Fifth Third Bancorp increased its stake in Chewy by 83.0% in 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 last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Chewy by 8.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company's stock valued at $189,000 after acquiring an additional 450 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position in shares of Chewy by 30.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company's stock valued at $94,000 after acquiring an additional 650 shares during the last quarter. Institutional investors own 93.09% of the company's stock.

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.