Barclays Issues Positive Forecast for Chewy (NYSE:CHWY) Stock Price

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

CHWY has been the subject of several other research reports. Seaport Res Ptn raised shares of Chewy to a "hold" rating in a research note on Monday, March 24th. Deutsche Bank Aktiengesellschaft set a $27.00 price target on Chewy and gave the company a "hold" rating in a research report on Monday, April 14th. JMP Securities cut their price target on Chewy from $40.00 to $39.00 and set a "market outperform" rating for the company in a report on Monday, April 14th. Needham & Company LLC reissued a "hold" rating on shares of Chewy in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. cut their target price on Chewy from $40.00 to $36.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $40.18.

Chewy Stock Up 1.8%

Shares of NYSE 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 6,944,352. The stock has a 50 day simple moving average of $37.29 and a 200-day simple moving average of $35.84. The company has a market capitalization of $18.70 billion, a PE ratio of 49.68, a P/E/G ratio of 2.21 and a beta of 1.69. Chewy has a 1 year low of $19.75 and a 1 year high of $45.28.

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

Insider Transactions at Chewy

In related news, CTO Satish Mehta sold 71,365 shares of Chewy stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the transaction, the chief technology officer now owns 262,853 shares in the company, valued at approximately $9,357,566.80. The trade was a 21.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 8,552 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total transaction of $285,209.20. Following the completion of the transaction, the chief executive officer now directly owns 62,096 shares of the company's stock, valued at $2,070,901.60. This represents a 12.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 307,411 shares of company stock worth $11,928,229. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CHWY. Mutual of America Capital Management LLC purchased a new stake in Chewy in the fourth quarter valued at approximately $2,915,000. Raymond James Financial Inc. purchased a new stake in Chewy during the fourth quarter worth about $69,789,000. Birch Hill Investment Advisors LLC acquired a new stake in shares of Chewy in the 4th quarter worth approximately $1,174,000. Polar Asset Management Partners Inc. grew its holdings in Chewy by 26.5% in the fourth quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company's stock valued at $9,670,000 after purchasing an additional 60,533 shares during the last quarter. Finally, Interval Partners LP purchased a new position in Chewy during the 4th quarter valued at about $1,536,000. 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.