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

Chewy (NYSE:CHWY) had its price objective increased by stock analysts at Robert W. Baird from $35.00 to $40.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 14.65% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada upped their price target on Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research report on Wednesday, October 23rd. Piper Sandler reiterated an “overweight” rating and set a $35.00 price objective on shares of Chewy in a research note on Friday, September 20th. JPMorgan Chase & Co. upped their price objective on Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, Evercore ISI increased their price target on Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.05.

Chewy Stock Performance

Shares of CHWY opened at $34.89 on Monday. Chewy has a 52-week low of $14.69 and a 52-week high of $39.10. The stock has a 50 day simple moving average of $29.91 and a 200 day simple moving average of $26.13. The firm 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 released its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. Equities research analysts predict that Chewy will post 0.32 EPS for the current fiscal year.

Insider Transactions at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through the SEC website. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Chewy

Several large investors have recently bought and sold shares of CHWY. BC Partners Advisors L.P. bought a new position in Chewy in the second quarter valued at about $7,517,800,000. Marshall Wace LLP grew its stake in Chewy by 1,028.6% in the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after acquiring an additional 2,636,526 shares during the period. FMR LLC grew its stake in Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after acquiring an additional 2,497,689 shares during the period. Fiera Capital Corp purchased a new position in shares of Chewy during the second quarter valued at approximately $44,373,000. Finally, Clearbridge Investments LLC purchased a new position in shares of Chewy during the second quarter valued at approximately $40,798,000. 93.09% of the stock is owned by institutional investors and hedge funds.

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.