Chewy (NYSE:CHWY) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Chewy (NYSE:CHWY) had its price objective hoisted by equities researchers at Robert W. Baird from $35.00 to $40.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 14.65% from the stock’s current price.

Other analysts have also issued research reports about the stock. Evercore ISI upped their target price on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and upped their price target for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Barclays boosted their target price on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a report on Wednesday, October 23rd. Finally, TD Cowen assumed coverage on Chewy in a research note on Wednesday, October 9th. They set a “buy” rating and a $38.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.05.

Chewy Price Performance

Shares of NYSE CHWY opened at $34.89 on Monday. Chewy has a one year low of $14.69 and a one year high of $39.10. The business’s fifty day moving average price is $29.91 and its 200-day moving average price is $26.13. The stock has a market capitalization of $14.59 billion, a PE ratio of 42.55, a P/E/G ratio of 3.36 and a beta of 1.06.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. As a group, equities analysts expect that Chewy will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. BC Partners Advisors L.P. bought a new stake in shares of Chewy in the second quarter worth $7,517,800,000. Vanguard Group Inc. grew its stake in shares of Chewy by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 10,480,230 shares of the company’s stock valued at $166,740,000 after purchasing an additional 875,532 shares during the period. FMR LLC grew its stake in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after purchasing an additional 2,497,689 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Chewy by 7.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,553,104 shares of the company’s stock valued at $96,787,000 after purchasing an additional 258,502 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after purchasing an additional 2,636,526 shares during the period. Hedge funds and other 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.