Chewy (NYSE:CHWY) Given New $40.00 Price Target at Robert W. Baird

Chewy (NYSE:CHWY) had its target price lowered by Robert W. Baird from $50.00 to $40.00 in a research note published on Thursday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also issued research reports about the company. Citigroup decreased their price objective on Chewy from $36.00 to $30.00 and set a neutral rating on the stock in a research note on Thursday. Raymond James lowered their price target on shares of Chewy from $36.00 to $33.00 and set an outperform rating for the company in a report on Monday. Wedbush reduced their price objective on shares of Chewy from $45.00 to $31.00 and set an outperform rating on the stock in a research note on Friday, August 25th. Gordon Haskett upgraded Chewy from a hold rating to a buy rating and set a $40.00 price target for the company in a report on Thursday, June 1st. Finally, JPMorgan Chase & Co. reduced their price target on Chewy from $56.00 to $48.00 and set an overweight rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $38.95.

Chewy Price Performance

Shares of NYSE CHWY opened at $23.98 on Thursday. The firm’s 50-day moving average is $33.24 and its two-hundred day moving average is $35.37. The company has a market capitalization of $10.25 billion, a PE ratio of 199.79, a price-to-earnings-growth ratio of 201.39 and a beta of 0.85. Chewy has a 12-month low of $23.03 and a 12-month high of $52.88.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, May 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.12. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.73 billion. Chewy had a return on equity of 39.90% and a net margin of 0.51%.

Insider Activity

In other Chewy news, CAO Stacy Bowman sold 15,166 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $33.52, for a total value of $508,364.32. Following the completion of the transaction, the chief accounting officer now owns 224,389 shares in the company, valued at approximately $7,521,519.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Susan Helfrick sold 16,964 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $39.72, for a total transaction of $673,810.08. Following the completion of the sale, the general counsel now directly owns 72,656 shares in the company, valued at $2,885,896.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stacy Bowman sold 15,166 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $33.52, for a total value of $508,364.32. Following the completion of the transaction, the chief accounting officer now owns 224,389 shares in the company, valued at approximately $7,521,519.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 304,798 shares of company stock worth $12,007,357. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chewy

A number of institutional investors have recently made changes to their positions in CHWY. UniSuper Management Pty Ltd bought a new stake in shares of Chewy in the second quarter worth $28,000. Belpointe Asset Management LLC bought a new stake in shares of Chewy in the 4th quarter worth about $33,000. Quarry LP raised its stake in shares of Chewy by 120.2% in the 1st quarter. Quarry LP now owns 874 shares of the company’s stock valued at $33,000 after purchasing an additional 477 shares in the last quarter. WASHINGTON TRUST Co bought a new position in shares of Chewy during the first quarter worth about $37,000. Finally, Quintet Private Bank Europe S.A. acquired a new position in Chewy in the first quarter worth about $37,000. 98.28% of the stock is owned by institutional investors and hedge funds.

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 Website www.chewy.com, as well as mobile applications.