Chewy (NYSE:CHWY) Price Target Raised to $40.00

Chewy (NYSE:CHWY) had its target price increased by Piper Sandler from $35.00 to $40.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 19.14% from the stock’s current price.

Several other equities analysts have also issued reports on the company. UBS Group raised their price target on Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Robert W. Baird lifted their target price on shares of Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Wedbush reissued an “outperform” rating and issued a $35.00 price target on shares of Chewy in a report on Thursday, August 29th. Finally, Evercore ISI upped their price objective on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and an average price target of $32.80.

Chewy Stock Down 0.2 %

NYSE CHWY opened at $33.58 on Monday. The company has a 50-day simple moving average of $30.31 and a two-hundred day simple moving average of $26.99. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10. The firm has a market cap of $14.04 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 3.15 and a beta of 1.12.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Chewy

Several institutional investors have recently added to or reduced their stakes in CHWY. 1620 Investment Advisors Inc. bought a new position in shares of Chewy during the second quarter valued at $33,000. Blue Trust Inc. boosted its holdings in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in Chewy in the 2nd quarter worth approximately $44,000. First Horizon Advisors Inc. purchased a new stake in Chewy during the 2nd quarter valued at $48,000. Finally, Skylands Capital LLC bought a new position in shares of Chewy during the 2nd quarter valued at $52,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Company Profile

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.