Chewy (NYSE:CHWY) Given New $52.00 Price Target at Evercore ISI

Chewy (NYSE:CHWY) had its price target hoisted by Evercore ISI from $47.00 to $52.00 in a report released on Thursday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

CHWY has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft set a $27.00 price objective on Chewy and gave the company a “hold” rating in a research report on Monday, April 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price objective on shares of Chewy in a research note on Thursday, March 27th. Jefferies Financial Group reissued a “hold” rating and issued a $43.00 price objective (up previously from $41.00) on shares of Chewy in a research note on Thursday, June 5th. Barclays boosted their target price on Chewy from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 28th. Finally, Citigroup boosted their target price on Chewy from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.72.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $41.24 on Thursday. The company has a market cap of $17.06 billion, a P/E ratio of 45.32, a PEG ratio of 2.21 and a beta of 1.75. Chewy has a one year low of $19.75 and a one year high of $48.62. The business’s 50-day simple moving average is $39.63 and its 200 day simple moving average is $36.58.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.08 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. Chewy’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. Analysts predict that Chewy will post 0.24 earnings per share for the current year.

Insider Transactions at Chewy

In other Chewy news, CFO David Reeder sold 11,582 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $36.44, for a total value of $422,048.08. Following the completion of the transaction, the chief financial officer now owns 397,556 shares of the company’s stock, valued at $14,486,940.64. This represents a 2.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sumit Singh sold 8,552 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total value of $285,209.20. Following the completion of the transaction, the chief executive officer now directly owns 62,096 shares of the company’s stock, valued at approximately $2,070,901.60. This trade represents a 12.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 236,046 shares of company stock worth $9,387,635. 0.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chewy

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers grew its position in Chewy by 10.1% during the 1st quarter. Rhumbline Advisers now owns 280,851 shares of the company’s stock worth $9,130,000 after acquiring an additional 25,755 shares during the last quarter. Belpointe Asset Management LLC bought a new position in shares of Chewy in the 1st quarter worth $318,000. Focus Partners Wealth acquired a new stake in Chewy during the 1st quarter worth $434,000. Bayforest Capital Ltd raised its stake in Chewy by 38.8% during the 1st quarter. Bayforest Capital Ltd now owns 8,632 shares of the company’s stock worth $281,000 after buying an additional 2,414 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Chewy by 31.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 383,966 shares of the company’s stock worth $12,483,000 after buying an additional 92,129 shares during the period. 93.09% 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 websites and mobile applications.