JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Chewy (NYSE:CHWY) Stock

Chewy (NYSE:CHWY) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $37.00 to $38.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 20.29% from the stock’s current price.

Several other research firms have also recently issued reports on CHWY. The Goldman Sachs Group upped their price target on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday. Raymond James lowered shares of Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Evercore ISI increased their price objective on Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Royal Bank of Canada raised their target price on Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday. Finally, UBS Group increased their price target on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and an average price target of $34.15.

Chewy Trading Up 1.7 %

Chewy stock opened at $31.59 on Thursday. The company’s 50-day moving average price is $30.42 and its two-hundred day moving average price is $27.06. The stock has a market cap of $13.21 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 3.15 and a beta of 1.12. Chewy has a 52 week low of $14.69 and a 52 week high of $39.10.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period last year, the company posted ($0.08) EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts expect that Chewy will post 0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Satish Mehta sold 8,056 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the sale, the chief technology officer now owns 585,962 shares in the company, valued at approximately $19,612,148.14. This represents a 1.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,128,804 shares of company stock worth $827,019,626. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Institutional investors have recently bought and sold shares of the business. Castellan Group bought a new stake in shares of Chewy during the 3rd quarter worth $5,282,000. Wilmington Savings Fund Society FSB bought a new position in Chewy during the 3rd quarter worth approximately $63,000. Virtu Financial LLC acquired a new position in Chewy in the third quarter valued at $795,000. Geode Capital Management LLC grew its stake in Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after purchasing an additional 119,633 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Chewy by 19.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 58,661 shares of the company’s stock valued at $1,718,000 after acquiring an additional 9,548 shares during the period. Institutional investors own 93.09% of the company’s stock.

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.