Chewy (NYSE:CHWY) PT Lowered to $16.00

Chewy (NYSE:CHWY) had its target price lowered by Piper Sandler from $19.00 to $16.00 in a report released on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts also recently issued research reports about the company. JMP Securities reiterated a market outperform rating and set a $28.00 price target on shares of Chewy in a report on Friday, March 15th. The Goldman Sachs Group lowered their price target on Chewy from $36.00 to $32.00 and set a buy rating on the stock in a report on Thursday, March 21st. Jefferies Financial Group reduced their price objective on Chewy from $27.00 to $25.00 and set a buy rating for the company in a research report on Thursday, March 21st. Royal Bank of Canada reduced their price objective on Chewy from $35.00 to $22.00 and set an outperform rating for the company in a research report on Friday, March 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on Chewy from $25.00 to $22.00 and set an overweight rating for the company in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $27.50.

Chewy Stock Up 3.0 %

Shares of CHWY stock opened at $15.84 on Tuesday. Chewy has a 12 month low of $14.69 and a 12 month high of $40.78. The business’s 50 day moving average is $16.70 and its two-hundred day moving average is $18.59. The company has a market cap of $6.89 billion, a PE ratio of 198.02, a price-to-earnings-growth ratio of 7.86 and a beta of 0.90.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.09. Chewy had a return on equity of 11.69% and a net margin of 0.33%. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. As a group, equities analysts expect that Chewy will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 6,728 shares of Chewy stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $104,485.84. Following the completion of the transaction, the chief executive officer now directly owns 129,991 shares of the company’s stock, valued at $2,018,760.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Chewy news, CEO Sumit Singh sold 6,728 shares of Chewy stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $104,485.84. Following the completion of the transaction, the chief executive officer now directly owns 129,991 shares of the company’s stock, valued at $2,018,760.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Stacy Bowman sold 8,025 shares of Chewy stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $124,628.25. Following the transaction, the chief accounting officer now directly owns 243,769 shares of the company’s stock, valued at $3,785,732.57. The disclosure for this sale can be found here. Insiders sold a total of 250,169 shares of company stock valued at $4,396,079 over the last ninety days. 2.10% of the stock is owned by company insiders.

Institutional Trading of Chewy

A number of hedge funds and other institutional investors have recently made changes to their positions in CHWY. Vontobel Holding Ltd. increased its stake in shares of Chewy by 136.5% in the third quarter. Vontobel Holding Ltd. now owns 27,883 shares of the company’s stock valued at $509,000 after buying an additional 16,095 shares in the last quarter. DnB Asset Management AS increased its stake in shares of Chewy by 62.3% in the third quarter. DnB Asset Management AS now owns 18,579 shares of the company’s stock valued at $339,000 after buying an additional 7,131 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Chewy in the third quarter valued at $653,000. Exchange Traded Concepts LLC acquired a new stake in shares of Chewy in the third quarter valued at $114,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Chewy in the third quarter valued at $132,000. 93.09% of the stock is currently 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.