Chewy, Inc. (NYSE:CHWY) Receives $37.95 Consensus Target Price from Analysts

Chewy, Inc. (NYSE:CHWY) has received a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $37.95.

A number of equities research analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and set a $39.00 target price on shares of Chewy in a research report on Monday, March 17th. Piper Sandler lifted their price target on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. increased their price objective on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada boosted their target price on shares of Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Finally, Guggenheim set a $42.00 price target on shares of Chewy and gave the stock a “buy” rating in a research note on Tuesday, February 4th.

Insider Buying and Selling at Chewy

In other Chewy news, CEO Sumit Singh sold 71,161 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $35.00, for a total value of $2,490,635.00. Following the transaction, the chief executive officer now directly owns 6,677 shares in the company, valued at approximately $233,695. This represents a 91.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Satish Mehta sold 83,639 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $40.00, for a total transaction of $3,345,560.00. Following the sale, the chief technology officer now directly owns 334,218 shares in the company, valued at $13,368,720. This represents a 20.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,726,333 shares of company stock worth $312,843,856. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CHWY. Banque Transatlantique SA purchased a new position in Chewy during the fourth quarter worth about $30,000. Fifth Third Bancorp increased its stake in shares of Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after acquiring an additional 444 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after acquiring an additional 320 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Chewy during the 3rd quarter worth about $63,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in Chewy in the fourth quarter valued at approximately $67,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Stock Up 4.8 %

Shares of NYSE:CHWY opened at $33.86 on Friday. The company has a market cap of $13.79 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 2.21 and a beta of 1.23. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $40.09. The firm’s 50-day simple moving average is $36.25 and its 200-day simple moving average is $33.03.

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.