Chewy (NYSE:CHWY) Stock Rating Reaffirmed by Piper Sandler

Chewy (NYSE:CHWY)‘s stock had its “overweight” rating restated by equities researchers at Piper Sandler in a research note issued to investors on Friday, Benzinga reports. They currently have a $35.00 price target on the stock. Piper Sandler’s price objective suggests a potential upside of 17.65% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Barclays boosted their price objective on Chewy from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Royal Bank of Canada upped their price objective on Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Morgan Stanley lifted their target price on shares of Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. UBS Group raised their price target on shares of Chewy from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Evercore ISI boosted their price objective on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.11.

Chewy Trading Down 4.3 %

Shares of NYSE CHWY opened at $29.75 on Friday. The company has a market cap of $12.94 billion, a price-to-earnings ratio of 165.28, a PEG ratio of 3.02 and a beta of 1.04. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10. The stock has a 50-day moving average price of $26.61 and a two-hundred day moving average price of $21.87.

Chewy (NYSE:CHWY) last released its quarterly earnings data 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. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.86 billion. On average, sell-side analysts predict that Chewy will post 0.32 earnings per share for the current year.

Insider Activity at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total transaction of $40,576,103.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $30.32, for a total transaction of $40,576,103.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 14,338 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the completion of the transaction, the chief executive officer now owns 1,398,271 shares in the company, valued at $31,097,547.04. The disclosure for this sale can be found here. Insiders have sold 18,906,141 shares of company stock worth $540,973,233 in the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in Chewy by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 667,247 shares of the company’s stock valued at $15,767,000 after purchasing an additional 39,301 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Chewy during the fourth quarter valued at approximately $339,000. Russell Investments Group Ltd. grew its holdings in Chewy by 27.7% during the first quarter. Russell Investments Group Ltd. now owns 86,542 shares of the company’s stock worth $1,355,000 after buying an additional 18,768 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Chewy by 127.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock valued at $27,328,000 after buying an additional 963,540 shares during the last quarter. Finally, Cetera Advisors LLC bought a new position in Chewy during the 1st quarter valued at $334,000. 93.09% of the stock is owned by 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.