Barclays Boosts Chewy (NYSE:CHWY) Price Target to $50.00

Chewy (NYSE:CHWY - Free Report) had its price target increased by Barclays from $44.00 to $50.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

CHWY has been the subject of several other reports. Citigroup raised their price target on shares of Chewy from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Needham & Company LLC restated a "hold" rating on shares of Chewy in a report on Thursday, March 27th. The Goldman Sachs Group boosted their price target on shares of Chewy from $40.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Mizuho boosted their price target on shares of Chewy from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Thursday, March 27th. Finally, Morgan Stanley lowered their price target on shares of Chewy from $40.00 to $39.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Chewy presently has a consensus rating of "Moderate Buy" and an average price target of $39.28.

Chewy Trading Up 1.8%

Shares of CHWY traded up $0.80 during midday trading on Wednesday, hitting $45.21. The stock had a trading volume of 5,587,647 shares, compared to its average volume of 6,961,337. Chewy has a fifty-two week low of $19.75 and a fifty-two week high of $45.31. The business has a 50-day simple moving average of $37.06 and a two-hundred day simple moving average of $35.73. The firm has a market cap of $18.70 billion, a P/E ratio of 49.68, a price-to-earnings-growth ratio of 2.21 and a beta of 1.69.

Chewy (NYSE:CHWY - Get Free Report) last announced its earnings results on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.03 by $0.25. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $3.25 billion during the quarter, compared to analysts' expectations of $3.20 billion. During the same period last year, the company posted $0.07 earnings per share. The business's revenue for the quarter was up 15.0% on a year-over-year basis. On average, analysts expect that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sumit Singh sold 148,063 shares of Chewy stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.67, for a total value of $6,021,722.21. Following the transaction, the chief executive officer now owns 705,252 shares of the company's stock, valued at $28,682,598.84. This trade represents a 17.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Satish Mehta sold 9,243 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $36.50, for a total transaction of $337,369.50. Following the transaction, the chief technology officer now owns 276,467 shares of the company's stock, valued at approximately $10,091,045.50. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 307,411 shares of company stock valued at $11,928,229 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chewy

Several large investors have recently bought and sold shares of CHWY. Parallel Advisors LLC increased its holdings in Chewy by 150.2% in the 1st quarter. Parallel Advisors LLC now owns 788 shares of the company's stock valued at $26,000 after buying an additional 473 shares during the period. Banque Transatlantique SA bought a new stake in Chewy in the 4th quarter valued at $30,000. Golden State Wealth Management LLC increased its holdings in Chewy by 104.6% in the 1st quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after buying an additional 481 shares during the period. Fifth Third Bancorp increased its holdings in Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock valued at $33,000 after buying an additional 444 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new stake in Chewy in the 1st quarter valued at $44,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.