Chewy (NYSE:CHWY) had its price objective cut by research analysts at Morgan Stanley from $81.00 to $74.00 in a research report issued on Friday, Analyst Ratings Network reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 42.97% from the company’s current price. The analysts noted that the move was a valuation call.
CHWY has been the subject of a number of other reports. Barclays lowered their target price on shares of Chewy from $90.00 to $64.00 and set an “equal weight” rating for the company in a research note on Friday. Wedbush cut shares of Chewy from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $90.00 to $70.00 in a research note on Monday, December 6th. Cfra lowered their target price on shares of Chewy from $87.00 to $86.00 and set a “hold” rating for the company in a research note on Thursday, September 2nd. Zacks Investment Research cut shares of Chewy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 7th. Finally, Piper Sandler reduced their price target on shares of Chewy from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, September 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $90.27.
NYSE:CHWY opened at $51.76 on Friday. Chewy has a fifty-two week low of $50.05 and a fifty-two week high of $120.00. The stock has a market capitalization of $21.62 billion, a P/E ratio of 2,588.00, a P/E/G ratio of 43.31 and a beta of 0.41. The company’s 50-day simple moving average is $67.73 and its 200-day simple moving average is $76.35.
Chewy (NYSE:CHWY) last released its quarterly earnings results on Thursday, December 9th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. Chewy had a net margin of 0.13% and a return on equity of 22.89%. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) earnings per share. Equities analysts expect that Chewy will post 0.07 earnings per share for the current fiscal year.
In other Chewy news, CFO Mario Jesus Marte sold 83,706 shares of Chewy stock in a transaction on Monday, November 15th. The shares were sold at an average price of $75.19, for a total transaction of $6,293,854.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Susan Helfrick sold 20,927 shares of the business’s stock in a transaction dated Friday, November 12th. The shares were sold at an average price of $71.81, for a total transaction of $1,502,767.87. The disclosure for this sale can be found here. Insiders sold a total of 109,633 shares of company stock worth $8,141,622 in the last three months. 0.67% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in CHWY. Wellington Management Group LLP boosted its position in shares of Chewy by 426.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,496,886 shares of the company’s stock valued at $170,062,000 after acquiring an additional 2,023,038 shares during the last quarter. Macquarie Group Ltd. raised its holdings in Chewy by 5,903.0% in the 3rd quarter. Macquarie Group Ltd. now owns 1,702,810 shares of the company’s stock valued at $115,979,000 after buying an additional 1,674,444 shares during the period. Frontier Capital Management Co. LLC purchased a new stake in Chewy in the 3rd quarter valued at about $40,467,000. Two Sigma Advisers LP raised its holdings in Chewy by 263.5% in the 3rd quarter. Two Sigma Advisers LP now owns 716,400 shares of the company’s stock valued at $48,794,000 after buying an additional 519,300 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in Chewy by 41.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,726,740 shares of the company’s stock valued at $117,295,000 after buying an additional 510,278 shares during the period. 94.66% of the stock is currently owned by hedge funds and other institutional investors.
About Chewy
Chewy, Inc engages in the provision of pure-play e-commerce business. It supplies pet medications, food, treats and other pet-health products and services for dogs, cats, fish, birds, small pets, horses, and reptiles. The company was founded by Ryan Cohen and Michael Day in September 2011 and is headquartered in Dania Beach, FL.
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