Chewy (NYSE:CHWY) Given New $46.00 Price Target at UBS Group

Chewy (NYSE:CHWY - Free Report) had its price target upped by UBS Group from $36.00 to $46.00 in a research note released on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other analysts have also recently issued reports on the company. JMP Securities decreased their target price on Chewy from $40.00 to $39.00 and set a "market outperform" rating for the company in a report on Monday, April 14th. Needham & Company LLC reiterated a "hold" rating on shares of Chewy in a research note on Thursday, March 27th. JPMorgan Chase & Co. cut their target price on shares of Chewy from $40.00 to $36.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group upped their price target on shares of Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $43.00 price target (up from $41.00) on shares of Chewy in a report on Thursday. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Chewy currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.00.

Chewy Stock Up 0.3%

Shares of NYSE CHWY traded up $0.16 during trading on Thursday, hitting $47.44. 6,006,381 shares of the company traded hands, compared to its average volume of 6,904,860. The firm has a market capitalization of $19.62 billion, a P/E ratio of 52.14, a P/E/G ratio of 2.21 and a beta of 1.69. The company has a 50-day moving average price of $38.17 and a 200-day moving average price of $36.13. Chewy has a 1 year low of $19.75 and a 1 year high of $48.21.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.25. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm's quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 earnings per share. Research analysts predict that Chewy will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 8,552 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total transaction of $285,209.20. Following the transaction, the chief executive officer now owns 62,096 shares of the company's stock, valued at $2,070,901.60. This trade represents a 12.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David Reeder sold 7,863 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $36.50, for a total value of $286,999.50. Following the completion of the sale, the chief financial officer now owns 11,582 shares of the company's stock, valued at $422,743. This trade represents a 40.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 236,046 shares of company stock worth $9,387,635. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Chewy

Several large investors have recently added to or reduced their stakes in CHWY. Parallel Advisors LLC increased its stake in Chewy by 150.2% during the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock valued at $26,000 after purchasing an additional 473 shares during the last quarter. Banque Transatlantique SA acquired a new position in shares of Chewy in the 4th quarter valued at about $30,000. Golden State Wealth Management LLC grew its position in shares of Chewy by 104.6% during the 1st quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after buying an additional 481 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Chewy during the first quarter worth about $44,000. Finally, North Star Investment Management Corp. raised its stake in Chewy by 26.6% during the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock worth $55,000 after acquiring an additional 353 shares during the period. 93.09% of the stock is currently owned by institutional investors.

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.