Chewy (NYSE:CHWY) Stock Has Consensus Target Price of $30.64

Shares of Chewy (NYSE:CHWY) have received a consensus rating of “Moderate Buy” from the twenty-five research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $30.64.

Several equities analysts have commented on the stock. Raymond James Financial raised their price target on shares of Chewy from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, September 4th. Deutsche Bank Aktiengesellschaft cut their price objective on Chewy from $45.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, June 11th. Zacks Research upgraded Chewy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group decreased their target price on Chewy from $34.00 to $30.00 and set a “buy” rating for the company in a report on Friday, September 11th. Finally, Morgan Stanley lowered their target price on Chewy from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, September 10th.

Insider Transactions at Chewy

In other news, General Counsel Da-Wai Hu sold 4,203 shares of Chewy stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $19.49, for a total value of $81,916.47. Following the completion of the transaction, the general counsel owned 4,103 shares in the company, valued at approximately $79,967.47. This trade represents a 50.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chewy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Amundi increased its holdings in Chewy by 191.8% in the first quarter. Amundi now owns 1,466,126 shares of the company’s stock valued at $39,584,000 after buying an additional 963,750 shares during the last quarter. Jefferies Financial Group Inc. lifted its holdings in Chewy by 550.3% during the 4th quarter. Jefferies Financial Group Inc. now owns 102,249 shares of the company’s stock worth $3,379,000 after buying an additional 86,526 shares during the last quarter. ING Groep NV acquired a new position in shares of Chewy during the 4th quarter worth about $5,883,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Chewy by 392.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 275,612 shares of the company’s stock worth $7,442,000 after acquiring an additional 219,696 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Chewy by 12.7% in the 1st quarter. Bank of America Corp DE now owns 4,816,924 shares of the company’s stock valued at $130,057,000 after acquiring an additional 542,298 shares during the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Stock Down 1.1%

Shares of CHWY opened at $18.35 on Tuesday. The stock has a market capitalization of $7.37 billion, a PE ratio of 27.80, a P/E/G ratio of 0.81 and a beta of 1.42. Chewy has a 1 year low of $17.40 and a 1 year high of $40.55. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.42 and a current ratio of 0.84. The company’s 50-day simple moving average is $22.33 and its 200-day simple moving average is $22.67.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.18. Chewy had a net margin of 2.09% and a return on equity of 60.88%. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the previous year, the business posted $0.33 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts forecast that Chewy will post 0.77 earnings per share for the current fiscal year.

About Chewy

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile applications, the company sells pet food, treats, supplies, toys, bedding, medications, and other products for dogs, cats, fish, birds, reptiles, and small pets.

Chewy supports recurring purchases through its Autoship program and provides access to prescription and over-the-counter pet medications through Chewy Pharmacy. The company also offers pet health-related services, including veterinary consultations in certain markets, and sells products under a range of national and private-label brands.