Morgan Stanley Issues Pessimistic Forecast for Chewy (NYSE:CHWY) Stock Price

Chewy (NYSE:CHWY - Get Free Report) had its target price reduced by equities researchers at Morgan Stanley from $40.00 to $39.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's target price would suggest a potential upside of 8.33% from the company's current price.

Several other equities analysts also recently weighed in on the company. Mizuho lifted their target price on Chewy from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. reduced their target price on shares of Chewy from $40.00 to $36.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Evercore ISI raised Chewy from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $34.00 to $47.00 in a research report on Monday, January 13th. JMP Securities reduced their price objective on Chewy from $40.00 to $39.00 and set a "market outperform" rating on the stock in a research note on Monday, April 14th. Finally, The Goldman Sachs Group boosted their target price on Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, Chewy currently has an average rating of "Moderate Buy" and an average target price of $38.47.

Chewy Stock Up 6.3 %

CHWY stock traded up $2.12 during mid-day trading on Thursday, hitting $36.00. 6,023,884 shares of the company were exchanged, compared to its average volume of 7,411,373. The business has a fifty day simple moving average of $34.17 and a 200-day simple moving average of $33.61. The firm has a market capitalization of $14.89 billion, a P/E ratio of 39.56, a PEG ratio of 2.21 and a beta of 1.68. Chewy has a 12-month low of $14.69 and a 12-month high of $40.09.

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

Insider Activity at Chewy

In other Chewy news, CTO Satish Mehta sold 83,639 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total transaction of $3,345,560.00. Following the completion of the sale, the chief technology officer now directly owns 334,218 shares of the company's stock, valued at $13,368,720. This represents a 20.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sumit Singh sold 13,472 shares of Chewy stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $37.55, for a total value of $505,873.60. Following the completion of the transaction, the chief executive officer now owns 505,109 shares in the company, valued at $18,966,842.95. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 551,303 shares of company stock valued at $20,752,583 in the last three months. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chewy

Institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in shares of Chewy by 150.2% during the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock worth $26,000 after acquiring an additional 473 shares during the period. Banque Transatlantique SA acquired a new stake in shares of Chewy in the 4th quarter valued at approximately $30,000. 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 valued at $33,000 after buying an additional 444 shares in the last quarter. North Star Investment Management Corp. grew its holdings in Chewy by 26.6% during the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock worth $55,000 after acquiring an additional 353 shares during the period. Finally, Blue Trust Inc. raised its position in Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock worth $58,000 after acquiring an additional 320 shares in the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

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.