Chewy (NYSE:CHWY) PT Lowered to $16.00 at Piper Sandler

Chewy (NYSE:CHWY - Get Free Report) had its price objective reduced by analysts at Piper Sandler from $19.00 to $16.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's price objective suggests a potential upside of 2.56% from the stock's current price.

A number of other brokerages also recently commented on CHWY. Bank of America dropped their target price on shares of Chewy from $17.00 to $16.50 and set an "underperform" rating on the stock in a research note on Thursday, March 21st. Needham & Company LLC restated a "buy" rating and issued a $25.00 target price on shares of Chewy in a research note on Thursday, March 21st. Barclays raised shares of Chewy from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $19.00 to $30.00 in a research report on Thursday, January 11th. Jefferies Financial Group lowered their price target on shares of Chewy from $27.00 to $25.00 and set a "buy" rating for the company in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group lowered their price target on shares of Chewy from $36.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chewy currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.50.

Chewy Stock Down 0.6 %

CHWY stock traded down $0.10 during mid-day trading on Tuesday, hitting $15.60. The company had a trading volume of 8,517,733 shares, compared to its average volume of 9,047,806. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 196.27, a P/E/G ratio of 8.41 and a beta of 0.91. Chewy has a 12-month low of $15.08 and a 12-month high of $40.78. The company has a 50-day moving average price of $16.83 and a 200 day moving average price of $18.67.

Chewy (NYSE:CHWY - Get Free Report) last posted its earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.09. Chewy had a net margin of 0.33% and a return on equity of 11.69%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. As a group, analysts expect that Chewy will post 0.08 EPS for the current year.

Insider Transactions at Chewy

In other news, CEO Sumit Singh sold 192,642 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total value of $3,409,763.40. Following the sale, the chief executive officer now owns 1,307,025 shares in the company, valued at $23,134,342.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Satish Mehta sold 40,523 shares of the firm's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total transaction of $717,257.10. Following the sale, the chief technology officer now owns 557,058 shares in the company, valued at $9,859,926.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sumit Singh sold 192,642 shares of the firm's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total transaction of $3,409,763.40. Following the sale, the chief executive officer now owns 1,307,025 shares in the company, valued at approximately $23,134,342.50. The disclosure for this sale can be found here. Insiders have sold 250,169 shares of company stock worth $4,396,079 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chewy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHWY. Headinvest LLC purchased a new position in Chewy during the third quarter valued at $39,000. Quest Partners LLC purchased a new position in shares of Chewy in the fourth quarter worth about $65,000. Future Financial Wealth Managment LLC purchased a new position in shares of Chewy in the first quarter worth about $65,000. Signaturefd LLC lifted its stake in shares of Chewy by 37.8% in the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company's stock worth $79,000 after buying an additional 922 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Chewy by 15.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company's stock worth $95,000 after buying an additional 543 shares in the last quarter. 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.