The Goldman Sachs Group Forecasts Strong Price Appreciation for Chewy (NYSE:CHWY) Stock

Chewy (NYSE:CHWY - Free Report) had its target price upped by The Goldman Sachs Group from $40.00 to $45.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on CHWY. Seaport Res Ptn raised Chewy to a "hold" rating in a research report on Monday, March 24th. 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 note on Monday, January 6th. Argus raised Chewy from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. Royal Bank of Canada raised their price objective on Chewy from $39.00 to $42.00 and gave the company an "outperform" rating in a research report on Thursday, December 5th. Finally, Wedbush reiterated an "outperform" rating and issued a $39.00 target price on shares of Chewy in a report on Thursday. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.68.

Chewy Stock Performance

Chewy stock traded up $0.06 during mid-day trading on Thursday, hitting $32.23. The company's stock had a trading volume of 1,975,702 shares, compared to its average volume of 5,286,169. The company has a 50 day moving average of $35.90 and a 200-day moving average of $33.23. Chewy has a one year low of $14.69 and a one year high of $40.09. The stock has a market cap of $13.12 billion, a PE ratio of 35.41, a P/E/G ratio of 2.21 and a beta of 1.23.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.25. The firm had revenue of $3.25 billion for the quarter, compared to analysts' expectations of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business's revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share. On average, equities research analysts forecast that Chewy will post 0.24 EPS for the current fiscal year.

Insider Activity at Chewy

In other Chewy news, CFO David Reeder sold 307,558 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $37.48, for a total transaction of $11,527,273.84. Following the transaction, the chief financial officer now owns 546,257 shares in the company, valued at approximately $20,473,712.36. This represents a 36.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 191,096 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $35.68, for a total value of $6,818,305.28. Following the completion of the sale, the chief executive officer now owns 707,126 shares of the company's stock, valued at $25,230,255.68. This trade represents a 21.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,083,269 shares of company stock worth $290,611,129. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chewy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its stake in shares of Chewy by 1.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company's stock worth $661,000 after purchasing an additional 301 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock valued at $58,000 after acquiring an additional 320 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Chewy by 83.0% in the fourth 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. lifted its holdings in 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 purchasing an additional 450 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in Chewy by 30.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company's stock worth $94,000 after purchasing an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company's stock.

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.