Chewy (NYSE:CHWY) Given New $47.00 Price Target at Royal Bank Of Canada

Chewy (NYSE:CHWY) had its price objective upped by research analysts at Royal Bank Of Canada from $43.00 to $47.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 82.74% from the company’s previous close.

CHWY has been the topic of a number of other research reports. Wall Street Zen upgraded shares of Chewy from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chewy in a report on Wednesday, January 21st. Morgan Stanley dropped their target price on shares of Chewy from $51.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 10th. UBS Group set a $51.00 price target on shares of Chewy in a report on Tuesday, January 13th. Finally, TD Cowen raised their price target on shares of Chewy from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday. Seventeen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $44.00.

Chewy Price Performance

CHWY stock traded down $0.40 on Monday, reaching $25.72. 3,319,791 shares of the company traded hands, compared to its average volume of 8,336,195. The firm has a fifty day simple moving average of $26.92 and a 200-day simple moving average of $32.11. The company has a market cap of $10.67 billion, a P/E ratio of 49.61, a price-to-earnings-growth ratio of 1.77 and a beta of 1.60. Chewy has a one year low of $22.74 and a one year high of $48.62.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, March 25th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.19). Chewy had a return on equity of 53.48% and a net margin of 1.77%.The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period last year, the firm posted $0.28 earnings per share. The company’s revenue was up .5% compared to the same quarter last year. On average, sell-side analysts forecast that Chewy will post 0.24 EPS for the current year.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 13,013 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $28.99, for a total value of $377,246.87. Following the completion of the transaction, the chief technology officer owned 273,835 shares of the company’s stock, valued at approximately $7,938,476.65. The trade was a 4.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.43% of the company’s stock.

Institutional Trading of Chewy

A number of institutional investors have recently made changes to their positions in CHWY. Hsbc Holdings PLC raised its holdings in shares of Chewy by 685.2% during the fourth quarter. Hsbc Holdings PLC now owns 89,204 shares of the company’s stock valued at $2,956,000 after purchasing an additional 77,843 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Chewy by 17.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 14,054 shares of the company’s stock worth $464,000 after purchasing an additional 2,111 shares during the last quarter. Corient Private Wealth LLC purchased a new stake in Chewy in the fourth quarter worth approximately $333,000. Keenan LLC purchased a new stake in Chewy during the 4th quarter valued at $440,000. Finally, Wick Capital Partners LLC purchased a new stake in Chewy during the 4th quarter valued at $237,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Company Profile

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.