Chewy (NYSE:CHWY) Price Target Raised to $42.00

Chewy (NYSE:CHWY) had its target price boosted by Citigroup from $40.00 to $42.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

CHWY has been the topic of a number of other reports. Barclays raised their price objective on Chewy from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday. Guggenheim set a $42.00 price objective on shares of Chewy and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Piper Sandler raised their target price on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a report on Thursday. Finally, JMP Securities restated a “market outperform” rating and set a $37.00 price target on shares of Chewy in a report on Monday, December 16th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chewy currently has a consensus rating of “Moderate Buy” and an average target price of $38.68.

Chewy Price Performance

NYSE:CHWY opened at $32.20 on Thursday. The stock has a market cap of $13.11 billion, a PE ratio of 35.39, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $40.09. The stock’s 50-day moving average is $35.90 and its two-hundred day moving average is $33.21.

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

Insider Buying and Selling

In other news, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the completion of the sale, the chief technology officer now owns 262,853 shares in the company, valued at $9,357,566.80. The trade was a 21.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $35.77, for a total value of $250,390,000.00. The disclosure for this sale can be found here. Insiders sold a total of 8,083,269 shares of company stock worth $290,611,129 in the last three months. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chewy

A number of institutional investors and hedge funds have recently modified their holdings of CHWY. Vanguard Group Inc. increased its stake in Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock valued at $485,093,000 after acquiring an additional 3,493,926 shares during the last quarter. FMR LLC increased its position in shares of Chewy by 32.4% during the 4th quarter. FMR LLC now owns 5,288,757 shares of the company’s stock valued at $177,120,000 after purchasing an additional 1,293,428 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Chewy by 9.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company’s stock valued at $150,345,000 after buying an additional 399,330 shares in the last quarter. Clearbridge Investments LLC lifted its position in Chewy by 47.4% in the 4th quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company’s stock worth $129,495,000 after buying an additional 1,243,981 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its stake in Chewy by 5.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock worth $81,014,000 after buying an additional 138,768 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.