JMP Securities Forecasts Strong Price Appreciation for Chewy (NYSE:CHWY) Stock

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

Other analysts also recently issued reports about the company. Citigroup reaffirmed a "buy" rating and set a $49.00 price objective (up from $42.00) on shares of Chewy in a research note on Thursday, June 12th. The Goldman Sachs Group lifted their price objective on shares of Chewy from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft set a $27.00 price objective on shares of Chewy and gave the company a "hold" rating in a research report on Monday, April 14th. Guggenheim restated a "buy" rating and issued a $45.00 target price (up previously from $42.00) on shares of Chewy in a research note on Thursday, June 12th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Chewy in a report on Thursday, June 12th. Nine equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $43.89.

Chewy Trading Down 1.8%

Shares of Chewy stock traded down $0.71 during trading on Thursday, reaching $38.06. The company's stock had a trading volume of 3,203,947 shares, compared to its average volume of 6,183,099. The company has a 50-day moving average price of $42.34 and a two-hundred day moving average price of $37.79. The firm has a market cap of $15.80 billion, a PE ratio of 42.71, a P/E/G ratio of 8.13 and a beta of 1.71. Chewy has a fifty-two week low of $19.75 and a fifty-two week high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm posted $0.31 EPS. Chewy's revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts predict that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $41.75, for a total value of $1,250,000,010.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Reeder sold 11,582 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $36.44, for a total transaction of $422,048.08. Following the completion of the transaction, the chief financial officer directly owned 397,556 shares of the company's stock, valued at approximately $14,486,940.64. This represents a 2.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,167,614 shares of company stock valued at $1,259,102,436 in the last quarter. Insiders own 0.43% of the company's stock.

Institutional Trading of Chewy

Several hedge funds and other institutional investors have recently bought and sold shares of CHWY. Farther Finance Advisors LLC boosted its holdings in shares of Chewy by 32.4% during the second quarter. Farther Finance Advisors LLC now owns 3,720 shares of the company's stock worth $159,000 after purchasing an additional 911 shares during the last quarter. Harbour Capital Advisors LLC lifted its position in Chewy by 2.0% during the second quarter. Harbour Capital Advisors LLC now owns 23,470 shares of the company's stock worth $962,000 after buying an additional 450 shares during the period. Global Financial Private Client LLC increased its stake in shares of Chewy by 22.1% during the 2nd quarter. Global Financial Private Client LLC now owns 5,719 shares of the company's stock valued at $244,000 after acquiring an additional 1,035 shares during the last quarter. Redhawk Wealth Advisors Inc. acquired a new position in shares of Chewy during the 2nd quarter valued at about $1,785,000. Finally, Andrew Hill Investment Advisors Inc. acquired a new position in shares of Chewy during the 2nd quarter valued at about $549,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.