Chewy (NYSE:CHWY) PT Lowered to $16.00

Chewy (NYSE:CHWY) had its price objective reduced by equities research analysts at Piper Sandler from $19.00 to $16.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 1.91% from the company’s previous close.

CHWY has been the topic of several other research reports. Wedbush reissued an “outperform” rating and issued a $25.00 price objective on shares of Chewy in a research note on Thursday, March 21st. Mizuho started coverage on Chewy in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $18.00 price target on the stock. The Goldman Sachs Group lowered their price objective on Chewy from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. Royal Bank of Canada cut their price objective on Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $28.00 price objective on shares of Chewy in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Chewy currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

Chewy Trading Down 2.8 %

Shares of CHWY stock opened at $15.70 on Tuesday. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 196.27, a PEG ratio of 8.41 and a beta of 0.91. The business’s 50-day moving average price is $16.83 and its 200-day moving average price is $18.67. Chewy has a 12 month low of $15.08 and a 12 month high of $40.78.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. On average, sell-side analysts predict that Chewy will post 0.08 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Chewy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHWY. CenterBook Partners LP bought a new position in shares of Chewy in the third quarter worth approximately $573,000. Rafferty Asset Management LLC grew its position in Chewy by 29.9% during the third quarter. Rafferty Asset Management LLC now owns 19,677 shares of the company’s stock valued at $359,000 after acquiring an additional 4,524 shares during the last quarter. Platinum Investment Management Ltd. purchased a new position in shares of Chewy during the third quarter worth approximately $1,230,000. Victory Capital Management Inc. grew its holdings in shares of Chewy by 364.2% during the 3rd quarter. Victory Capital Management Inc. now owns 57,662 shares of the company’s stock valued at $1,053,000 after purchasing an additional 45,240 shares during the last quarter. Finally, Marathon Trading Investment Management LLC bought a new position in shares of Chewy during the third quarter valued at about $1,076,000. 93.09% of the stock is currently 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.