Chewy (NYSE:CHWY) Price Target Raised to $45.00 at Guggenheim

Chewy (NYSE:CHWY - Get Free Report) had its price objective raised by research analysts at Guggenheim from $42.00 to $45.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's price target indicates a potential upside of 9.12% from the company's previous close.

A number of other research analysts have also commented on CHWY. Evercore ISI increased their price objective on Chewy from $47.00 to $52.00 and gave the company an "outperform" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft set a $27.00 price objective on Chewy and gave the company a "hold" rating in a report on Monday, April 14th. 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. Seaport Res Ptn raised Chewy to a "hold" rating in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. increased their price objective on Chewy from $36.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, Chewy has an average rating of "Moderate Buy" and an average target price of $43.72.

Chewy Trading Up 1.2%

CHWY stock traded up $0.48 during mid-day trading on Thursday, hitting $41.24. The stock had a trading volume of 9,387,254 shares, compared to its average volume of 6,949,193. Chewy has a 1-year low of $19.75 and a 1-year high of $48.62. The company has a fifty day moving average of $39.44 and a 200 day moving average of $36.53. The stock has a market capitalization of $17.06 billion, a price-to-earnings ratio of 45.32, a PEG ratio of 2.21 and a beta of 1.75.

Chewy (NYSE:CHWY - Get Free Report) last issued its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm posted $0.31 EPS. The business's revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that Chewy will post 0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO David Reeder sold 7,863 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $36.50, for a total transaction of $286,999.50. Following the completion of the transaction, the chief financial officer now owns 11,582 shares in the company, valued at $422,743. This trade represents a 40.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 148,063 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 236,046 shares of company stock worth $9,387,635. 0.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chewy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC bought a new position in shares of Chewy during the 4th quarter worth approximately $2,915,000. Raymond James Financial Inc. acquired a new stake in Chewy during the 4th quarter valued at $69,789,000. Polar Asset Management Partners Inc. increased its holdings in Chewy by 26.5% during the 4th 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 in the last quarter. Interval Partners LP acquired a new stake in Chewy during the 4th quarter valued at $1,536,000. Finally, Vanguard Group Inc. increased its holdings in Chewy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock valued at $485,093,000 after purchasing an additional 3,493,926 shares in the last quarter. 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.