Guggenheim Issues Positive Forecast for Chewy (NYSE:CHWY) Stock Price

Chewy (NYSE:CHWY) had its price target raised by Guggenheim from $42.00 to $45.00 in a research report sent to investors on Thursday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley lowered their target price on shares of Chewy from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Mizuho downgraded shares of Chewy from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $43.00 to $47.00 in a report on Monday. The Goldman Sachs Group increased their target price on shares of Chewy from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Wedbush raised their price objective on shares of Chewy from $39.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $43.00 target price (up previously from $41.00) on shares of Chewy in a research report on Thursday, June 5th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and a consensus price target of $43.72.

Chewy Price Performance

Shares of Chewy stock opened at $41.24 on Thursday. Chewy has a fifty-two week low of $19.75 and a fifty-two week high of $48.62. The firm has a market capitalization of $17.06 billion, a P/E ratio of 45.32, a P/E/G ratio of 2.21 and a beta of 1.75. The company’s 50 day moving average price is $39.63 and its two-hundred day moving average price is $36.58.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the business earned $0.31 earnings per share. Chewy’s revenue was up 6.3% compared to the same quarter last year. On average, analysts expect 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 shares were 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 directly owns 397,556 shares in the company, valued at $14,486,940.64. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sumit Singh sold 8,552 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total transaction of $285,209.20. Following the completion of the transaction, the chief executive officer now owns 62,096 shares of the company’s stock, valued at approximately $2,070,901.60. The trade was a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 236,046 shares of company stock worth $9,387,635. Corporate insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Chewy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BC Partners PE LP purchased a new stake in Chewy during the first quarter valued at $7,142,402,000. Vanguard Group Inc. raised its position in shares of Chewy by 31.8% in the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock valued at $485,093,000 after purchasing an additional 3,493,926 shares during the last quarter. Durable Capital Partners LP purchased a new stake in Chewy during the 4th quarter worth approximately $79,050,000. Invesco Ltd. lifted its stake in Chewy by 4,577.5% during the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock valued at $73,381,000 after acquiring an additional 2,144,302 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Chewy during the 4th quarter valued at approximately $69,789,000. 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.