Chewy (NYSE:CHWY) Given New $16.00 Price Target at Citigroup

Chewy (NYSE:CHWY) had its target price reduced by research analysts at Citigroup from $18.00 to $16.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 3.63% from the stock’s current price.

A number of other equities analysts also recently issued reports on CHWY. Barclays raised Chewy from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $19.00 to $30.00 in a report on Thursday, January 11th. Royal Bank of Canada decreased their price objective on Chewy from $35.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of Chewy in a report on Thursday, March 21st. Bank of America decreased their price objective on Chewy from $17.00 to $16.50 and set an “underperform” rating for the company in a report on Thursday, March 21st. Finally, Mizuho assumed coverage on Chewy in a report on Tuesday, March 19th. They issued a “neutral” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Chewy has a consensus rating of “Moderate Buy” and an average target price of $26.83.

Chewy Stock Performance

Shares of Chewy stock opened at $15.44 on Tuesday. Chewy has a one year low of $14.69 and a one year high of $40.78. The company has a market cap of $6.72 billion, a PE ratio of 193.02, a P/E/G ratio of 8.28 and a beta of 0.91. The business has a 50-day simple moving average of $16.57 and a 200-day simple moving average of $18.50.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Chewy had a return on equity of 11.69% and a net margin of 0.33%. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. On average, sell-side analysts predict that Chewy will post 0.08 earnings per share for the current fiscal year.

Insider Activity at Chewy

In related news, CEO Sumit Singh sold 46,090 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total transaction of $696,880.80. Following the sale, the chief executive officer now owns 1,379,100 shares of the company’s stock, valued at $20,851,992. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sumit Singh sold 46,090 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $696,880.80. Following the completion of the transaction, the chief executive officer now owns 1,379,100 shares of the company’s stock, valued at $20,851,992. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Satish Mehta sold 8,019 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $121,247.28. Following the completion of the transaction, the chief technology officer now directly owns 569,594 shares in the company, valued at $8,612,261.28. The disclosure for this sale can be found here. Insiders have sold a total of 69,993 shares of company stock valued at $1,067,363 over the last quarter. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. CenterBook Partners LP purchased a new stake in shares of Chewy during the 3rd quarter valued at about $573,000. Rafferty Asset Management LLC boosted its stake in shares of Chewy by 29.9% in the third quarter. Rafferty Asset Management LLC now owns 19,677 shares of the company’s stock valued at $359,000 after purchasing an additional 4,524 shares during the period. Platinum Investment Management Ltd. acquired a new stake in Chewy during the 3rd quarter valued at $1,230,000. Victory Capital Management Inc. increased its stake in Chewy by 364.2% during the 3rd quarter. Victory Capital Management Inc. now owns 57,662 shares of the company’s stock worth $1,053,000 after buying an additional 45,240 shares during the period. Finally, Marathon Trading Investment Management LLC acquired a new position in Chewy in the 3rd quarter worth $1,076,000. 93.09% of the stock is owned by institutional investors and hedge funds.

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.