Chewy (NYSE:CHWY - Get Free Report) was upgraded by investment analysts at Mizuho from a "neutral" rating to an "outperform" rating in a research note issued on Monday, Marketbeat reports. The firm presently has a $42.00 price objective on the stock, up from their previous price objective of $24.00. Mizuho's target price would suggest a potential upside of 13.39% from the stock's previous close.
CHWY has been the topic of several other reports. Barclays lifted their target price on shares of Chewy from $34.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, November 18th. Royal Bank of Canada raised their target price on Chewy from $39.00 to $42.00 and gave the stock an "outperform" rating in a research note on Thursday, December 5th. Morgan Stanley boosted their price target on Chewy from $33.00 to $36.00 and gave the company an "overweight" rating in a report on Monday, November 25th. TD Cowen initiated coverage on Chewy in a report on Wednesday, October 9th. They issued a "buy" rating and a $38.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Chewy from $24.00 to $28.00 and gave the company a "hold" rating in a research note on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.70.
Read Our Latest Stock Analysis on CHWY
Chewy Stock Performance
Shares of CHWY stock traded up $1.08 on Monday, hitting $37.04. 9,257,105 shares of the company's stock traded hands, compared to its average volume of 7,733,385. The stock has a market capitalization of $15.08 billion, a price-to-earnings ratio of 40.70, a P/E/G ratio of 4.28 and a beta of 1.10. The company's fifty day simple moving average is $32.54 and its 200 day simple moving average is $29.06. Chewy has a one year low of $14.69 and a one year high of $39.10.
Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.05 by $0.15. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) earnings per share. As a group, sell-side analysts anticipate that Chewy will post 0.24 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Chewy news, CTO Satish Mehta sold 8,056 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the completion of the sale, the chief technology officer now directly owns 585,962 shares in the company, valued at approximately $19,612,148.14. This trade represents a 1.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 71,161 shares of Chewy stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the transaction, the chief executive officer now directly owns 77,838 shares of the company's stock, valued at $2,529,735. This trade represents a 47.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,799,523 shares of company stock worth $682,554,313 in the last 90 days. Insiders own 2.10% of the company's stock.
Institutional Investors Weigh In On Chewy
Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its position in Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company's stock valued at $38,000 after acquiring an additional 905 shares in the last quarter. Washington Trust Advisors Inc. lifted its holdings in shares of Chewy by 0.3% during the third quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company's stock valued at $8,156,000 after purchasing an additional 923 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Chewy by 10.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company's stock valued at $308,000 after buying an additional 1,029 shares during the last quarter. D.A. Davidson & CO. increased its holdings in Chewy by 5.0% in the 3rd quarter. D.A. Davidson & CO. now owns 26,219 shares of the company's stock worth $768,000 after buying an additional 1,244 shares in the last quarter. Finally, Planning Capital Management Corp purchased a new position in Chewy in the 3rd quarter worth about $52,000. Institutional investors own 93.09% of the company's stock.
Chewy Company Profile
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Get Free Report)
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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