Chewy (NYSE:CHWY) Given New $40.00 Price Target at Barclays

Chewy (NYSE:CHWY) had its price objective increased by Barclays from $34.00 to $40.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Wedbush reiterated an “outperform” rating and set a $35.00 price target on shares of Chewy in a report on Thursday, August 29th. TD Cowen initiated coverage on shares of Chewy in a research report on Wednesday, October 9th. They set a “buy” rating and a $38.00 target price on the stock. Evercore ISI boosted their price target on Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Finally, Needham & Company LLC restated a “hold” rating on shares of Chewy in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.45.

Chewy Price Performance

CHWY opened at $31.86 on Monday. Chewy has a 1-year low of $14.69 and a 1-year high of $39.10. The stock has a market cap of $13.32 billion, a P/E ratio of 38.85, a P/E/G ratio of 3.16 and a beta of 1.06. The stock’s 50 day simple moving average is $29.57 and its 200 day simple moving average is $25.60.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.86 billion. Research analysts expect that Chewy will post 0.32 EPS for the current fiscal year.

Insider Activity at Chewy

In related 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 stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

A number of hedge funds have recently made changes to their positions in CHWY. BC Partners Advisors L.P. acquired a new stake in Chewy during the 2nd quarter valued at $7,517,800,000. Marshall Wace LLP grew its stake in shares of Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after acquiring an additional 2,636,526 shares in the last quarter. FMR LLC increased its position in shares of Chewy by 166.8% during the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after acquiring an additional 2,497,689 shares during the last quarter. Fiera Capital Corp acquired a new position in shares of Chewy in the second quarter worth about $44,373,000. Finally, Clearbridge Investments LLC purchased a new position in Chewy in the second quarter valued at about $40,798,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Company Profile

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.