Chewy (NYSE:CHWY) PT Lowered to $16.00

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

CHWY has been the subject of several other reports. JPMorgan Chase & Co. dropped 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. Jefferies Financial Group dropped their target price on Chewy from $27.00 to $25.00 and set a buy rating for the company in a research report on Thursday, March 21st. JMP Securities reiterated a market outperform rating and issued a $28.00 target price on shares of Chewy in a research report on Friday, March 15th. Barclays upgraded Chewy from an equal weight rating to an overweight rating and increased their target price for the company from $19.00 to $30.00 in a research report on Thursday, January 11th. Finally, Needham & Company LLC reiterated a buy rating and issued a $25.00 target price on shares of Chewy in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average 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 twelve month low of $14.69 and a twelve month high of $40.78. The company has a market cap of $6.89 billion, a P/E ratio of 198.02, a P/E/G ratio of 7.86 and a beta of 0.90. The business has a fifty day simple moving average of $16.70 and a 200 day simple moving average of $18.59.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, topping 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 business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. As a group, equities research analysts anticipate that Chewy will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Stacy Bowman sold 8,025 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $124,628.25. Following the completion of the sale, the chief accounting officer now owns 243,769 shares of the company’s stock, valued at $3,785,732.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Stacy Bowman sold 8,025 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $124,628.25. Following the completion of the sale, the chief accounting officer now owns 243,769 shares of the company’s stock, valued at $3,785,732.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sumit Singh sold 6,728 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total value of $104,485.84. Following the completion of the transaction, the chief executive officer now owns 129,991 shares in the company, valued at approximately $2,018,760.23. The disclosure for this sale can be found here. Insiders sold 250,169 shares of company stock valued at $4,396,079 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headinvest LLC bought a new position in Chewy in the third quarter worth approximately $39,000. Quest Partners LLC bought a new position in shares of Chewy in the fourth quarter valued at approximately $65,000. Future Financial Wealth Managment LLC bought a new position in shares of Chewy in the first quarter valued at approximately $65,000. Signaturefd LLC lifted its holdings in shares of Chewy by 37.8% in the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after purchasing an additional 922 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Chewy by 15.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock valued at $95,000 after purchasing an additional 543 shares in the last quarter. Institutional investors own 93.09% of the company’s stock.

About Chewy

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.