Chewy (NYSE:CHWY) Price Target Increased to $30.00 by Analysts at UBS Group

Chewy (NYSE:CHWY) had its price objective hoisted by stock analysts at UBS Group from $21.00 to $30.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 4.38% from the stock’s current price.

Several other analysts have also recently issued reports on CHWY. Evercore ISI increased their target price on Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research report on Wednesday. Raymond James lowered shares of Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Needham & Company LLC lifted their price objective on shares of Chewy from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Guggenheim increased their target price on shares of Chewy from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Wolfe Research began coverage on shares of Chewy in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.52.

Chewy Stock Performance

CHWY opened at $28.74 on Thursday. The stock’s 50 day moving average price is $25.50 and its 200-day moving average price is $20.36. The stock has a market cap of $12.50 billion, a price-to-earnings ratio of 159.67, a P/E/G ratio of 3.48 and a beta of 1.03. Chewy has a one year low of $14.69 and a one year high of $39.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. Chewy had a net margin of 0.73% and a return on equity of 16.62%. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. As a group, analysts predict that Chewy will post 0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total transaction of $499,999,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sumit Singh sold 14,338 shares of Chewy stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the completion of the transaction, the chief executive officer now owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $28.49, for a total value of $499,999,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,906,141 shares of company stock valued at $540,973,233. 2.10% of the stock is owned by company insiders.

Institutional Trading of Chewy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. EntryPoint Capital LLC lifted its position in shares of Chewy by 18.0% during the 1st quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after buying an additional 619 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Chewy by 3.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock valued at $451,000 after purchasing an additional 870 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Chewy by 10.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock valued at $308,000 after purchasing an additional 1,029 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Chewy in the second quarter valued at about $33,000. Finally, Camelot Portfolios LLC raised its position in shares of Chewy by 14.0% during the 1st quarter. Camelot Portfolios LLC now owns 10,200 shares of the company’s stock worth $162,000 after purchasing an additional 1,249 shares during the last quarter. 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.