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

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

A number of other research firms have also weighed in on CHWY. Barclays increased their target price on shares of Chewy from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday. The Goldman Sachs Group increased their price objective on Chewy from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $34.00 to $47.00 in a research note on Monday, January 13th. Morgan Stanley boosted their price objective on shares of Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Mizuho raised shares of Chewy from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $24.00 to $42.00 in a research report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.68.

Chewy Price Performance

CHWY opened at $32.20 on Thursday. The stock’s 50 day simple moving average is $35.90 and its 200 day simple moving average is $33.21. The firm has a market cap of $13.11 billion, a price-to-earnings ratio of 35.39, a PEG ratio of 2.21 and a beta of 1.23. Chewy has a 1 year low of $14.69 and a 1 year high of $40.09.

Chewy (NYSE:CHWY) last issued its earnings results 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 net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter last year, the business earned $0.07 earnings per share. The business’s revenue was up 15.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Chewy will post 0.24 EPS for the current year.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Satish Mehta sold 168,105 shares of Chewy stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $36.32, for a total transaction of $6,105,573.60. Following the completion of the transaction, the chief technology officer now directly owns 417,857 shares of the company’s stock, valued at $15,176,566.24. This trade represents a 28.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,083,269 shares of company stock valued at $290,611,129 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHWY. Charles Schwab Investment Management Inc. raised its stake in shares of Chewy by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 824,824 shares of the company’s stock worth $24,159,000 after purchasing an additional 46,629 shares during the last quarter. Cerity Partners LLC increased its holdings in Chewy by 42.4% in the 3rd quarter. Cerity Partners LLC now owns 15,324 shares of the company’s stock worth $449,000 after buying an additional 4,559 shares in the last quarter. DRW Securities LLC purchased a new position in Chewy in the 3rd quarter worth about $293,000. Bank of Montreal Can lifted its stake in Chewy by 261.2% during the 3rd quarter. Bank of Montreal Can now owns 158,166 shares of the company’s stock valued at $4,739,000 after acquiring an additional 256,275 shares during the period. Finally, FMR LLC boosted its holdings in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after acquiring an additional 2,497,689 shares during the last quarter. 93.09% of the stock is owned by 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.