Chewy (NYSE:CHWY) PT Lowered to $16.00

Chewy (NYSE:CHWY) had its price target cut by Piper Sandler from $19.00 to $16.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued research reports about the company. Mizuho began coverage on Chewy in a research report on Tuesday, March 19th. They set a neutral rating and a $18.00 price objective on the stock. Jefferies Financial Group dropped their target price on Chewy from $27.00 to $25.00 and set a buy rating on the stock in a report on Thursday, March 21st. Royal Bank of Canada dropped their target price on Chewy from $35.00 to $22.00 and set an outperform rating on the stock in a report on Friday, March 22nd. Wedbush reissued an outperform rating and issued a $25.00 target price on shares of Chewy in a report on Thursday, March 21st. Finally, Barclays raised Chewy from an equal weight rating to an overweight rating and increased their target price for the company from $19.00 to $30.00 in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $27.50.

Chewy Trading Up 2.0 %

Chewy stock opened at $15.39 on Tuesday. Chewy has a twelve month low of $14.69 and a twelve month high of $40.78. The stock’s fifty day simple moving average is $16.72 and its 200-day simple moving average is $18.61. The firm has a market capitalization of $6.69 billion, a P/E ratio of 192.31, a P/E/G ratio of 8.12 and a beta of 0.90.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Chewy had a return on equity of 11.69% and a net margin of 0.33%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. Sell-side analysts predict that Chewy will post 0.08 earnings per share for the current year.

Insider Transactions at Chewy

In other news, CEO Sumit Singh sold 192,642 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $17.70, for a total transaction of $3,409,763.40. Following the completion of the sale, the chief executive officer now owns 1,307,025 shares in the company, valued at $23,134,342.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Stacy Bowman sold 8,025 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $124,628.25. Following the completion of the sale, the chief accounting officer now owns 243,769 shares in the company, valued at $3,785,732.57. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sumit Singh sold 192,642 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $17.70, for a total transaction of $3,409,763.40. Following the completion of the sale, the chief executive officer now owns 1,307,025 shares of the company’s stock, valued at approximately $23,134,342.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 250,169 shares of company stock worth $4,396,079. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

A number of hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its position in Chewy by 16.8% in the fourth quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock valued at $436,748,000 after purchasing an additional 2,654,376 shares during the period. Vanguard Group Inc. increased its holdings in Chewy by 13.5% in the fourth quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock valued at $226,959,000 after buying an additional 1,140,269 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Chewy by 101.4% in the third quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company’s stock valued at $63,518,000 after buying an additional 1,751,131 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Chewy in the fourth quarter valued at about $42,223,000. Finally, Qube Research & Technologies Ltd increased its holdings in Chewy by 141.2% in the third quarter. Qube Research & Technologies Ltd now owns 1,188,823 shares of the company’s stock valued at $21,708,000 after buying an additional 695,907 shares in the last quarter. Institutional investors and hedge funds 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.