JPMorgan Chase & Co. Issues Pessimistic Forecast for Chewy (NYSE:CHWY) Stock Price

Chewy (NYSE:CHWY) had its price objective reduced by investment analysts at JPMorgan Chase & Co. from $40.00 to $36.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 12.49% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Argus raised Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research report on Thursday, March 27th. JMP Securities reissued a “market outperform” rating and issued a $37.00 target price on shares of Chewy in a report on Monday, December 16th. Wedbush restated an “outperform” rating and issued a $39.00 price target on shares of Chewy in a research report on Thursday, March 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 target price on shares of Chewy in a report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Chewy has an average rating of “Moderate Buy” and an average price target of $38.47.

Chewy Trading Up 1.4 %

CHWY traded up $0.43 on Tuesday, hitting $32.00. 2,326,727 shares of the stock traded hands, compared to its average volume of 7,493,517. The business has a fifty day moving average price of $35.28 and a two-hundred day moving average price of $33.28. The firm has a market capitalization of $13.03 billion, a PE ratio of 34.94, a P/E/G ratio of 2.21 and a beta of 1.68. Chewy has a 52 week low of $14.69 and a 52 week high of $40.09.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the previous year, the company posted $0.07 earnings per share. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. On average, equities research analysts forecast that Chewy will post 0.24 EPS for the current fiscal year.

Insider Activity

In other Chewy news, CTO Satish Mehta sold 83,639 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $3,345,560.00. Following the sale, the chief technology officer now owns 334,218 shares of the company’s stock, valued at $13,368,720. The trade was a 20.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sumit Singh sold 114,130 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $37.70, for a total value of $4,302,701.00. Following the transaction, the chief executive officer now owns 529,809 shares of the company’s stock, valued at approximately $19,973,799.30. This represents a 17.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 837,538 shares of company stock worth $31,310,938 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC grew its position in Chewy by 150.2% in the 1st quarter. Parallel Advisors LLC now owns 788 shares of the company’s stock valued at $26,000 after acquiring an additional 473 shares in the last quarter. Banque Transatlantique SA acquired a new position in shares of Chewy in the fourth quarter valued at approximately $30,000. Fifth Third Bancorp increased its stake in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after buying an additional 444 shares during the period. Blue Trust Inc. increased its stake in Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after buying an additional 320 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Chewy during the 3rd quarter worth approximately $63,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

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.