Chewy (NYSE:CHWY) Stock Price Expected to Rise, Mizuho Analyst Says

Chewy (NYSE:CHWY - Free Report) had its price objective raised by Mizuho from $42.00 to $43.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also weighed in on CHWY. Seaport Res Ptn raised Chewy to a "hold" rating in a report on Monday, March 24th. JPMorgan Chase & Co. raised their target price on Chewy from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Thursday. Piper Sandler raised their price target on Chewy from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Monday, December 2nd. Argus raised shares of Chewy from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Barclays upped their price target on shares of Chewy from $40.00 to $44.00 and gave the stock an "overweight" rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.68.

Chewy Stock Performance

Shares of CHWY stock traded up $0.44 on Thursday, hitting $32.61. The stock had a trading volume of 4,610,640 shares, compared to its average volume of 7,546,965. Chewy has a 52-week low of $14.69 and a 52-week high of $40.09. The firm has a market capitalization of $13.28 billion, a price-to-earnings ratio of 35.83, a P/E/G ratio of 2.21 and a beta of 1.23. The stock's 50 day moving average is $35.90 and its 200-day moving average is $33.23.

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Chewy (NYSE:CHWY - Get Free Report) last announced its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the company earned $0.07 earnings per share. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. Equities analysts expect that Chewy will post 0.24 earnings per share for the current year.

Insider Activity

In other news, 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 transaction of $250,390,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Satish Mehta sold 71,365 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the sale, the chief technology officer now directly owns 262,853 shares of the company's stock, valued at approximately $9,357,566.80. The trade was a 21.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,083,269 shares of company stock worth $290,611,129 in the last 90 days. Company insiders own 2.10% of the company's stock.

Institutional Trading of Chewy

A number of institutional investors have recently added to or reduced their stakes in the business. Banque Transatlantique SA bought a new position in Chewy during the fourth quarter valued at about $30,000. Fifth Third Bancorp lifted its holdings in shares of Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after buying an additional 444 shares during the last quarter. Blue Trust Inc. boosted its holdings in 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 period. Wilmington Savings Fund Society FSB acquired a new position in Chewy in the 3rd quarter valued at approximately $63,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Chewy in the 4th quarter valued at $67,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.