Chewy (NYSE:CHWY) Stock Price Expected to Rise, Citigroup Analyst Says

Chewy (NYSE:CHWY) had its price target lifted by research analysts at Citigroup from $40.00 to $42.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 30.43% from the company’s current price.

Other analysts have also recently issued reports about the company. 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. Guggenheim set a $42.00 target price on shares of Chewy and gave the stock a “buy” rating in a report on Tuesday, February 4th. Barclays raised their price target on shares of Chewy from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday. Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, UBS Group raised their target price on Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and an average target price of $38.68.

Chewy Trading Down 1.5 %

Shares of Chewy stock opened at $32.20 on Thursday. The firm’s 50 day moving average is $35.90 and its 200 day moving average is $33.17. The firm has a market capitalization 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 1 year low of $14.69 and a 1 year high of $40.09.

Chewy (NYSE:CHWY) last announced its quarterly 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 company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the business earned $0.07 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, research analysts anticipate that Chewy will post 0.24 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sumit Singh sold 9,285 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $371,400.00. Following the completion of the transaction, the chief executive officer now directly owns 489,750 shares of the company’s stock, valued at $19,590,000. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,083,269 shares of company stock worth $290,611,129. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chewy

A number of hedge funds and other institutional investors have recently bought and sold shares of CHWY. Banque Transatlantique SA purchased a new position in Chewy in the fourth quarter worth $30,000. Fifth Third Bancorp lifted its stake in Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after purchasing an additional 320 shares in the last quarter. Allworth Financial LP increased its position in shares of Chewy by 52.0% during the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after purchasing an additional 650 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new position in shares of Chewy during the 4th quarter valued at about $67,000. Hedge funds and other institutional investors 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.