Brokerages Set Chewy (NYSE:CHWY) Target Price at $42.91

Shares of Chewy (NYSE:CHWY) have been assigned an average rating of “Moderate Buy” from the twenty-five analysts that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $42.9091.

Several equities research analysts have weighed in on CHWY shares. JPMorgan Chase & Co. lowered their price objective on shares of Chewy from $46.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, March 26th. Wedbush lowered their price objective on shares of Chewy from $42.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, March 26th. Citizens Jmp lowered their price objective on shares of Chewy from $48.00 to $45.00 and set a “market outperform” rating for the company in a research report on Thursday, March 26th. Zacks Research upgraded shares of Chewy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Finally, The Goldman Sachs Group lowered their price objective on shares of Chewy from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Thursday, March 26th.

Insider Activity

In other news, General Counsel Da-Wai Hu sold 8,149 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $26.91, for a total value of $219,289.59. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Satish Mehta sold 13,013 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $28.99, for a total transaction of $377,246.87. Following the completion of the transaction, the chief technology officer directly owned 273,835 shares in the company, valued at $7,938,476.65. This trade represents a 4.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Winslow Asset Management Inc. bought a new position in shares of Chewy in the 3rd quarter valued at about $6,171,000. WINTON GROUP Ltd boosted its stake in shares of Chewy by 110.6% in the 3rd quarter. WINTON GROUP Ltd now owns 239,800 shares of the company’s stock valued at $9,700,000 after purchasing an additional 125,943 shares during the last quarter. Nordea Investment Management AB bought a new position in shares of Chewy in the 3rd quarter valued at about $6,967,000. Federated Hermes Inc. boosted its stake in shares of Chewy by 2,715.2% in the 3rd quarter. Federated Hermes Inc. now owns 664,079 shares of the company’s stock valued at $26,862,000 after purchasing an additional 640,490 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Chewy by 8,785.0% in the 3rd quarter. CWM LLC now owns 284,499 shares of the company’s stock valued at $11,508,000 after purchasing an additional 281,297 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.

Chewy Trading Up 0.4%

CHWY opened at $25.52 on Friday. The stock has a market capitalization of $10.63 billion, a PE ratio of 49.08, a PEG ratio of 1.10 and a beta of 1.50. Chewy has a 1-year low of $22.74 and a 1-year high of $48.62. The firm has a 50-day moving average price of $25.99 and a two-hundred day moving average price of $30.23.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.19). The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.26 billion. Chewy had a net margin of 1.77% and a return on equity of 53.48%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. On average, research analysts predict that Chewy will post 0.89 EPS for the current year.

About Chewy

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.