Chewy (NYSE:CHWY) Price Target Raised to $47.00

Chewy (NYSE:CHWY - Get Free Report) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $36.00 to $47.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 13.97% from the company's previous close.

A number of other research analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft set a $27.00 target price on Chewy and gave the company a "hold" rating in a report on Monday, April 14th. Citigroup boosted their price objective on shares of Chewy from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Morgan Stanley lowered their target price on shares of Chewy from $40.00 to $39.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Seaport Res Ptn upgraded shares of Chewy to a "hold" rating in a research report on Monday, March 24th. Finally, UBS Group upped their price target on shares of Chewy from $36.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $43.72.

Chewy Price Performance

NYSE:CHWY traded up $0.48 on Thursday, reaching $41.24. 9,387,254 shares of the company's stock were exchanged, compared to its average volume of 6,949,193. The firm has a market cap of $17.06 billion, a price-to-earnings ratio of 45.32, a P/E/G ratio of 2.21 and a beta of 1.75. Chewy has a 52 week low of $19.75 and a 52 week high of $48.62. The stock has a fifty day simple moving average of $39.44 and a 200-day simple moving average of $36.53.

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

Insider Transactions at Chewy

In other Chewy news, CFO David Reeder sold 7,863 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $36.50, for a total transaction of $286,999.50. Following the completion of the sale, the chief financial officer now directly owns 11,582 shares in the company, valued at $422,743. This represents a 40.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sumit Singh sold 148,063 shares of Chewy stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 705,252 shares in the company, valued at approximately $28,682,598.84. This represents a 17.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 236,046 shares of company stock worth $9,387,635. 0.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chewy

Large investors have recently added to or reduced their stakes in the company. BC Partners PE LP bought a new stake in Chewy in the first quarter valued at $7,142,402,000. Vanguard Group Inc. increased 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 valued at $485,093,000 after acquiring an additional 3,493,926 shares in the last quarter. FMR LLC raised its stake in shares of Chewy by 32.4% in the fourth quarter. FMR LLC now owns 5,288,757 shares of the company's stock worth $177,120,000 after purchasing an additional 1,293,428 shares during the last quarter. Bank of New York Mellon Corp raised its position in Chewy by 9.8% in the 4th quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company's stock worth $150,345,000 after buying an additional 399,330 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in Chewy by 47.4% during the fourth quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company's stock valued at $129,495,000 after purchasing an additional 1,243,981 shares during the period. 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.