TD Cowen Cuts Chewy (NYSE:CHWY) Price Target to $39.00

Chewy (NYSE:CHWY) had its price objective trimmed by TD Cowen from $48.00 to $39.00 in a report released on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

CHWY has been the subject of a number of other reports. Wolfe Research set a $44.00 price target on Chewy in a research note on Monday, January 5th. Piper Sandler reissued an “overweight” rating on shares of Chewy in a research note on Thursday, February 5th. Barclays cut their price objective on Chewy from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Citigroup reaffirmed a “market outperform” rating on shares of Chewy in a report on Monday, November 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Chewy in a research report on Wednesday, January 21st. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.55.

Chewy Trading Down 4.3%

Chewy stock opened at $24.60 on Tuesday. The stock has a market cap of $10.21 billion, a price-to-earnings ratio of 51.25, a PEG ratio of 1.74 and a beta of 1.60. The company’s 50-day moving average price is $28.62 and its two-hundred day moving average price is $33.41. Chewy has a 52 week low of $23.06 and a 52 week high of $48.62.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, December 10th. The company reported $0.32 earnings per share 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 analyst estimates of $3.10 billion. During the same period in the prior year, the business posted $0.20 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. Research analysts expect that Chewy will post 0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 transaction of $377,246.87. Following the sale, the chief technology officer owned 273,835 shares in the company, valued at approximately $7,938,476.65. The trade was a 4.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust boosted its stake in Chewy by 34.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,161 shares of the company’s stock worth $49,000 after purchasing an additional 298 shares during the period. Park Avenue Securities LLC raised its stake in Chewy by 4.0% during the 3rd quarter. Park Avenue Securities LLC now owns 7,810 shares of the company’s stock valued at $316,000 after purchasing an additional 302 shares during the period. Transatlantique Private Wealth LLC lifted its holdings in shares of Chewy by 3.0% in the third quarter. Transatlantique Private Wealth LLC now owns 10,922 shares of the company’s stock valued at $442,000 after purchasing an additional 314 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Chewy by 12.5% in the third quarter. National Bank of Canada FI now owns 2,910 shares of the company’s stock valued at $118,000 after purchasing an additional 324 shares in the last quarter. Finally, Angeles Wealth Management LLC boosted its position in shares of Chewy by 6.6% in the third quarter. Angeles Wealth Management LLC now owns 5,305 shares of the company’s stock worth $215,000 after buying an additional 330 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.