Chewy (NYSE:CHWY) Given New $35.00 Price Target at Guggenheim

Chewy (NYSE:CHWY) had its price target trimmed by Guggenheim from $45.00 to $35.00 in a research report released on Friday, Marketbeat reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on CHWY. Morgan Stanley dropped their price target on Chewy from $32.00 to $31.00 and set an equal weight rating on the stock in a research report on Thursday. Royal Bank of Canada dropped their price target on Chewy from $56.00 to $44.00 and set an outperform rating on the stock in a research report on Thursday. Oppenheimer dropped their price target on Chewy from $50.00 to $35.00 and set an outperform rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on Chewy from $35.00 to $37.00 in a research report on Thursday, June 1st. Finally, Piper Sandler decreased their price objective on Chewy from $41.00 to $29.00 and set a neutral rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chewy presently has an average rating of Moderate Buy and a consensus price target of $38.45.

Chewy Stock Up 2.9 %

Shares of Chewy stock opened at $24.67 on Friday. The stock’s fifty day moving average is $32.95 and its two-hundred day moving average is $35.22. The company has a market capitalization of $10.54 billion, a PE ratio of 205.54, a price-to-earnings-growth ratio of 201.39 and a beta of 0.85. Chewy has a 52 week low of $23.03 and a 52 week high of $52.88.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, May 31st. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.12. Chewy had a return on equity of 39.90% and a net margin of 0.51%. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.73 billion.

Insider Activity

In other news, CAO Stacy Bowman sold 14,720 shares of the stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $38.76, for a total value of $570,547.20. Following the transaction, the chief accounting officer now directly owns 254,275 shares of the company’s stock, valued at $9,855,699. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Stacy Bowman sold 14,720 shares of the stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $38.76, for a total value of $570,547.20. Following the transaction, the chief accounting officer now directly owns 254,275 shares of the company’s stock, valued at $9,855,699. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mario Jesus Marte sold 100,000 shares of the stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $40.00, for a total value of $4,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 203,023 shares in the company, valued at $8,120,920. The disclosure for this sale can be found here. Over the last three months, insiders have sold 304,798 shares of company stock valued at $12,007,357. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky grew its holdings in Chewy by 15.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 599,177 shares of the company’s stock worth $23,649,000 after acquiring an additional 81,346 shares during the period. Alliancebernstein L.P. grew its holdings in Chewy by 55.0% during the second quarter. Alliancebernstein L.P. now owns 162,129 shares of the company’s stock worth $6,399,000 after acquiring an additional 57,503 shares during the period. Wells Fargo & Company MN grew its holdings in Chewy by 3.4% during the second quarter. Wells Fargo & Company MN now owns 663,365 shares of the company’s stock worth $26,183,000 after acquiring an additional 21,823 shares during the period. Natixis Advisors L.P. grew its holdings in Chewy by 7.6% during the second quarter. Natixis Advisors L.P. now owns 33,731 shares of the company’s stock worth $1,331,000 after acquiring an additional 2,371 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Chewy during the second quarter worth about $332,000. 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.