Chewy (NYSE:CHWY) Given New $48.00 Price Target at JMP Securities

Chewy (NYSE:CHWY - Free Report) had its target price boosted by JMP Securities from $39.00 to $48.00 in a report released on Thursday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other equities research analysts have also recently commented on CHWY. Morgan Stanley reaffirmed an "overweight" rating and issued a $50.00 target price (up from $39.00) on shares of Chewy in a research report on Thursday, June 12th. Evercore ISI set a $52.00 target price on shares of Chewy and gave the stock an "outperform" rating in a report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft set a $27.00 target price on shares of Chewy and gave the stock a "hold" rating in a report on Monday, April 14th. JPMorgan Chase & Co. boosted their price objective on shares of Chewy from $36.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Finally, Guggenheim reissued a "buy" rating and set a $45.00 price objective (up from $42.00) on shares of Chewy in a report on Thursday, June 12th. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.89.

Chewy Stock Performance

Shares of CHWY stock traded down $0.19 on Thursday, hitting $38.76. 5,282,332 shares of the company's stock traded hands, compared to its average volume of 6,193,984. The stock has a market capitalization of $16.09 billion, a price-to-earnings ratio of 144.26, a P/E/G ratio of 8.13 and a beta of 1.71. Chewy has a one year low of $19.75 and a one year high of $48.62. The company's fifty day simple moving average is $42.29 and its 200 day simple moving average is $37.76.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The company's revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. As a group, sell-side analysts anticipate that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Activity at Chewy

In related news, CEO Sumit Singh sold 148,063 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $40.67, for a total transaction of $6,021,722.21. Following the completion of the transaction, the chief executive officer owned 705,252 shares in the company, valued at approximately $28,682,598.84. This represents a 17.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $36.50, for a total transaction of $337,369.50. Following the transaction, the chief technology officer owned 276,467 shares of the company's stock, valued at approximately $10,091,045.50. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,167,614 shares of company stock worth $1,259,102,436 in the last three months. Insiders own 0.43% of the company's stock.

Institutional Investors Weigh In On Chewy

A number of hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC raised its stake in shares of Chewy by 86.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,953 shares of the company's stock valued at $199,000 after acquiring an additional 2,753 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chewy by 17.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 970,228 shares of the company's stock valued at $32,493,000 after buying an additional 145,404 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Chewy by 43.7% in the 4th quarter. Victory Capital Management Inc. now owns 80,178 shares of the company's stock valued at $2,685,000 after buying an additional 24,399 shares in the last quarter. Atria Investments Inc boosted its holdings in shares of Chewy by 9.6% in the 4th quarter. Atria Investments Inc now owns 9,735 shares of the company's stock valued at $326,000 after buying an additional 854 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Chewy by 8.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company's stock valued at $189,000 after buying an additional 450 shares in the last quarter. 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.