Chewy (NYSE:CHWY) PT Raised to $24.00 at Bank of America

Chewy (NYSE:CHWY) had its price target raised by Bank of America from $20.00 to $24.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an underperform rating on the stock.

A number of other equities analysts also recently issued reports on CHWY. Evercore ISI increased their price target on shares of Chewy from $22.00 to $29.00 and gave the stock an in-line rating in a research note on Wednesday, August 28th. Citigroup increased their target price on Chewy from $16.00 to $28.00 and gave the stock a neutral rating in a research report on Friday, July 19th. Argus lowered Chewy from a buy rating to a hold rating in a research report on Tuesday, July 9th. Needham & Company LLC increased their price objective on Chewy from $25.00 to $30.00 and gave the stock a buy rating in a report on Wednesday, May 29th. Finally, Piper Sandler initiated coverage on shares of Chewy in a report on Friday, August 23rd. They set an overweight rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chewy presently has a consensus rating of Moderate Buy and an average price target of $29.15.

Chewy Trading Down 0.5 %

Shares of Chewy stock opened at $28.55 on Thursday. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10. The company has a market cap of $12.42 billion, a P/E ratio of 158.61, a PEG ratio of 3.69 and a beta of 1.03. The company’s fifty day simple moving average is $25.69 and its two-hundred day simple moving average is $20.58.

Insider Buying and Selling at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $28.49, for a total value of $499,999,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total transaction of $499,999,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 14,338 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the transaction, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,906,141 shares of company stock worth $540,973,233. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

A number of institutional investors and hedge funds have recently modified their holdings of the company. BC Partners Advisors L.P. purchased a new stake in Chewy during the second quarter valued at $7,517,800,000. Baillie Gifford & Co. grew its stake in shares of Chewy by 7.2% during the 1st quarter. Baillie Gifford & Co. now owns 19,819,195 shares of the company’s stock valued at $315,323,000 after purchasing an additional 1,336,431 shares during the period. Vanguard Group Inc. increased its position in shares of Chewy by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 10,480,230 shares of the company’s stock valued at $166,740,000 after purchasing an additional 875,532 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Chewy by 7.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,553,104 shares of the company’s stock worth $96,787,000 after purchasing an additional 258,502 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of Chewy by 1,028.6% in the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after buying an additional 2,636,526 shares during the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

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.