Chewy (NYSE:CHWY) Price Target Lowered to $39.00 at JMP Securities

Chewy (NYSE:CHWY - Free Report) had its price objective decreased by JMP Securities from $40.00 to $39.00 in a report released on Monday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other research analysts have also recently issued reports on CHWY. JPMorgan Chase & Co. cut their price objective on Chewy from $40.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Barclays increased their price target on shares of Chewy from $40.00 to $44.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Royal Bank of Canada reissued an "outperform" rating and set a $42.00 price objective on shares of Chewy in a report on Thursday, March 27th. Mizuho increased their target price 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, Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a research note on Thursday, March 27th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $38.47.

Chewy Price Performance

Shares of CHWY traded up $0.42 during mid-day trading on Monday, reaching $35.18. The company's stock had a trading volume of 4,897,067 shares, compared to its average volume of 7,423,399. Chewy has a 12-month low of $14.69 and a 12-month high of $40.09. The company's 50 day moving average is $34.25 and its 200 day moving average is $33.52. The stock has a market cap of $14.55 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 2.21 and a beta of 1.68.

Chewy (NYSE:CHWY - Get Free Report) last announced its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $3.20 billion. During the same period in the prior year, the firm earned $0.07 EPS. The business's revenue was up 15.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Chewy will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Satish Mehta sold 83,639 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $40.00, for a total value of $3,345,560.00. Following the sale, the chief technology officer now owns 334,218 shares of the company's stock, valued at $13,368,720. This trade represents a 20.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Reeder sold 307,558 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $37.48, for a total value of $11,527,273.84. Following the completion of the sale, the chief financial officer now owns 546,257 shares in the company, valued at approximately $20,473,712.36. This represents a 36.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 551,303 shares of company stock valued at $20,752,583. Company insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Chewy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock worth $485,093,000 after purchasing an additional 3,493,926 shares during the period. Durable Capital Partners LP acquired a new position in Chewy in the 4th quarter worth about $79,050,000. Invesco Ltd. grew its stake in shares of Chewy by 4,577.5% in the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company's stock valued at $73,381,000 after buying an additional 2,144,302 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Chewy in the fourth quarter worth approximately $69,789,000. Finally, Assenagon Asset Management S.A. bought a new position in Chewy during the first quarter valued at approximately $61,390,000. Institutional investors own 93.09% of the company's stock.

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.