Chewy (NYSE:CHWY) Given New $49.00 Price Target at Citigroup

Chewy (NYSE:CHWY) had its price objective hoisted by Citigroup from $42.00 to $49.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on the company. Wedbush increased their target price on Chewy from $39.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday. The Goldman Sachs Group increased their target price on Chewy from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Morgan Stanley dropped their target price on Chewy from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. raised their price objective on Chewy from $36.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, JMP Securities lowered their price objective on Chewy from $40.00 to $39.00 and set a “market outperform” rating for the company in a research report on Monday, April 14th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.72.

Chewy Trading Up 1.2%

CHWY stock opened at $41.24 on Thursday. The firm has a market capitalization of $17.06 billion, a PE ratio of 45.32, a PEG ratio of 2.21 and a beta of 1.75. Chewy has a 1-year low of $19.75 and a 1-year high of $48.62. The business’s 50 day simple moving average is $39.63 and its 200 day simple moving average is $36.58.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm posted $0.31 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts predict that Chewy will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling at Chewy

In related news, CEO Sumit Singh sold 148,063 shares of Chewy stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $40.67, for a total transaction of $6,021,722.21. Following the sale, the chief executive officer now directly owns 705,252 shares in the company, valued at approximately $28,682,598.84. This trade represents a 17.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David Reeder sold 7,863 shares of Chewy stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $36.50, for a total value of $286,999.50. Following the sale, the chief financial officer now owns 11,582 shares in the company, valued at $422,743. This trade represents a 40.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 236,046 shares of company stock valued at $9,387,635. Company insiders own 0.43% of the company’s stock.

Institutional Trading of Chewy

Hedge funds have recently bought and sold shares of the business. BC Partners PE LP bought a new stake in shares of Chewy in the first quarter valued at $7,142,402,000. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 3,493,926 shares in the last quarter. FMR LLC grew its position in Chewy by 32.4% during the fourth quarter. FMR LLC now owns 5,288,757 shares of the company’s stock worth $177,120,000 after buying an additional 1,293,428 shares in the last quarter. Bank of New York Mellon Corp grew its position in Chewy by 9.8% during the fourth quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company’s stock worth $150,345,000 after buying an additional 399,330 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in Chewy by 47.4% during the fourth 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 in the last quarter. 93.09% of the stock is currently owned by 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.