Chewy (NYSE:CHWY) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Chewy (NYSE:CHWY) had its price target hoisted by Robert W. Baird from $35.00 to $40.00 in a report published on Monday,Benzinga reports. They currently have an outperform rating on the stock.

CHWY has been the topic of a number of other research reports. TD Cowen assumed coverage on Chewy in a report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price on the stock. Raymond James downgraded shares of Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a report on Friday, November 22nd. UBS Group increased their price target on shares of Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Chewy in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.35.

Chewy Price Performance

NYSE CHWY opened at $33.33 on Monday. The firm’s fifty day moving average price is $30.08 and its 200 day moving average price is $26.49. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10. The company has a market capitalization of $13.94 billion, a price-to-earnings ratio of 40.65, a price-to-earnings-growth ratio of 3.34 and a beta of 1.06.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. As a group, sell-side analysts forecast that Chewy will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BC Partners Advisors L.P. purchased a new stake in Chewy in the second quarter valued at approximately $7,517,800,000. Marshall Wace LLP grew its stake in shares of Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after buying an additional 2,636,526 shares during the period. FMR LLC increased its holdings in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after buying an additional 2,497,689 shares during the last quarter. Fiera Capital Corp purchased a new position in shares of Chewy in the 2nd quarter worth $44,373,000. Finally, Clearbridge Investments LLC acquired a new position in Chewy in the second quarter valued at $40,798,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.