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

Chewy, Inc. (NYSE:CHWY) has earned a consensus rating of “Moderate Buy” from the twenty-three research firms that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $37.95.

Several equities research analysts have recently weighed in on CHWY shares. The Goldman Sachs Group upped their price target on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Wolfe Research upgraded Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Wedbush reissued an “outperform” rating and set a $39.00 target price on shares of Chewy in a report on Monday, March 17th. Piper Sandler upped their price objective on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th.

Chewy Price Performance

Shares of CHWY stock opened at $33.60 on Friday. The company’s 50-day simple moving average is $36.17 and its two-hundred day simple moving average is $33.14. The company has a market capitalization of $13.68 billion, a P/E ratio of 36.92, a P/E/G ratio of 2.21 and a beta of 1.23. Chewy has a one year low of $14.69 and a one year high of $40.09.

Insider Buying and Selling at Chewy

In other news, 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 owns 334,218 shares of the company’s stock, valued at approximately $13,368,720. This trade represents a 20.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sumit Singh sold 9,285 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 value of $371,400.00. Following the transaction, the chief executive officer now directly owns 489,750 shares in the company, valued at approximately $19,590,000. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,655,172 shares of company stock valued at $310,353,221 over the last 90 days. 2.10% of the stock is owned by insiders.

Institutional Trading of Chewy

Large investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC purchased a new stake in shares of Chewy in the fourth quarter valued at about $2,915,000. Eagle Asset Management Inc. raised its stake in Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after acquiring an additional 975,647 shares during the last quarter. Centiva Capital LP purchased a new stake in shares of Chewy during the third quarter worth approximately $2,949,000. Raymond James Financial Inc. acquired a new stake in shares of Chewy during the fourth quarter worth $69,789,000. Finally, Geode Capital Management LLC grew its position in Chewy by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after buying an additional 119,633 shares during the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

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.