Chewy (NYSE:CHWY) Price Target Cut to $48.00 by Analysts at Citigroup

Chewy (NYSE:CHWY) had its price target reduced by Citigroup from $49.00 to $48.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently weighed in on the company. TD Cowen decreased their price target on Chewy from $50.00 to $48.00 and set a “buy” rating for the company in a report on Thursday. Guggenheim restated a “buy” rating and issued a $45.00 target price (up previously from $42.00) on shares of Chewy in a research note on Thursday, June 12th. Wall Street Zen lowered shares of Chewy from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research report on Thursday. Finally, UBS Group reaffirmed a “neutral” rating and issued a $44.00 price objective on shares of Chewy in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.72.

Chewy Stock Performance

Shares of CHWY opened at $36.03 on Thursday. Chewy has a fifty-two week low of $26.28 and a fifty-two week high of $48.62. The firm has a 50-day simple moving average of $38.60 and a 200-day simple moving average of $38.30. The company has a market capitalization of $14.96 billion, a price-to-earnings ratio of 102.94, a price-to-earnings-growth ratio of 7.35 and a beta of 1.65.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, September 10th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.19). Chewy had a net margin of 1.22% and a return on equity of 50.45%. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the company earned $0.24 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. Equities research analysts forecast that Chewy will post 0.24 EPS for the current year.

Insider Transactions at Chewy

In related news, CEO Sumit Singh sold 4,264 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $35.57, for a total value of $151,670.48. Following the sale, the chief executive officer owned 72,549 shares in the company, valued at $2,580,567.93. This represents a 5.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO William G. Billings sold 20,142 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $35.57, for a total value of $716,450.94. Following the completion of the transaction, the chief accounting officer directly owned 29,464 shares of the company’s stock, valued at $1,048,034.48. The trade was a 40.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,008,777 shares of company stock worth $1,252,444,321 over the last quarter. Insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Osterweis Capital Management Inc. acquired a new stake in Chewy during the 2nd quarter valued at $30,000. Parallel Advisors LLC lifted its position in shares of Chewy by 150.2% in the first quarter. Parallel Advisors LLC now owns 788 shares of the company’s stock valued at $26,000 after acquiring an additional 473 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Chewy by 104.6% during the first quarter. Golden State Wealth Management LLC now owns 941 shares of the company’s stock valued at $31,000 after acquiring an additional 481 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Chewy by 412.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,091 shares of the company’s stock worth $46,000 after purchasing an additional 878 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Chewy by 34.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,161 shares of the company’s stock worth $49,000 after purchasing an additional 298 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

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.