Analysts Set Chewy (NYSE:CHWY) Price Target at $46.05

Shares of Chewy (NYSE:CHWY) have received a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $45.55.

A number of research firms have recently weighed in on CHWY. Raymond James Financial raised shares of Chewy from a “market perform” rating to an “outperform” rating and set a $28.00 price target on the stock in a research note on Thursday, February 19th. UBS Group set a $51.00 target price on Chewy in a research note on Tuesday, January 13th. Citigroup reaffirmed a “market outperform” rating on shares of Chewy in a research report on Monday, November 24th. Morgan Stanley cut their price target on Chewy from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, TD Cowen reduced their price target on Chewy from $48.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday.

Chewy Stock Performance

CHWY stock opened at $24.60 on Friday. The firm has a 50 day simple moving average of $28.62 and a 200 day simple moving average of $33.41. Chewy has a 52 week low of $23.06 and a 52 week high of $48.62. The stock has a market cap of $10.21 billion, a P/E ratio of 51.25, a P/E/G ratio of 1.74 and a beta of 1.60.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, December 10th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Chewy had a net margin of 1.64% and a return on equity of 56.78%. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the firm earned $0.20 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. Sell-side analysts predict that Chewy will post 0.24 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Satish Mehta sold 13,013 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $28.99, for a total transaction of $377,246.87. Following the transaction, the chief technology officer owned 273,835 shares of the company’s stock, valued at approximately $7,938,476.65. This trade represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Quent Capital LLC bought a new stake in Chewy in the third quarter worth $27,000. CoreCap Advisors LLC raised its holdings in Chewy by 306.3% during the fourth quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock valued at $28,000 after buying an additional 637 shares in the last quarter. Harbour Investments Inc. raised its holdings in Chewy by 81.4% during the fourth quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock valued at $30,000 after buying an additional 407 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in shares of Chewy in the second quarter worth about $30,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Chewy in the fourth quarter worth about $31,000. Institutional investors own 93.09% of the company’s stock.

About Chewy

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.