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

Chewy (NYSE:CHWY) had its price objective upped by Citigroup from $40.00 to $42.00 in a research report released on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. UBS Group boosted their target price on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley upped their price target on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $34.00 to $47.00 in a research note on Monday, January 13th. Argus raised Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research report on Thursday. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.68.

Chewy Stock Down 1.7 %

Shares of Chewy stock opened at $32.68 on Thursday. Chewy has a 12-month low of $14.69 and a 12-month high of $40.09. The firm has a market capitalization of $13.31 billion, a PE ratio of 35.91, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. The stock’s fifty day moving average is $36.00 and its 200-day moving average is $33.13.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.25. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share. Analysts expect that Chewy will post 0.24 EPS for the current year.

Insiders Place Their Bets

In other Chewy news, CEO Sumit Singh sold 191,096 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.68, for a total transaction of $6,818,305.28. Following the completion of the sale, the chief executive officer now directly owns 707,126 shares in the company, valued at $25,230,255.68. This represents a 21.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Satish Mehta sold 71,365 shares of Chewy stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the transaction, the chief technology officer now owns 262,853 shares in the company, valued at $9,357,566.80. The trade was a 21.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,083,269 shares of company stock valued at $290,611,129 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chewy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in Chewy by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 824,824 shares of the company’s stock worth $24,159,000 after purchasing an additional 46,629 shares during the last quarter. Cerity Partners LLC grew its position in Chewy by 42.4% during the third quarter. Cerity Partners LLC now owns 15,324 shares of the company’s stock worth $449,000 after buying an additional 4,559 shares in the last quarter. DRW Securities LLC bought a new position in Chewy during the third quarter valued at about $293,000. Bank of Montreal Can raised its holdings in Chewy by 261.2% in the 3rd quarter. Bank of Montreal Can now owns 158,166 shares of the company’s stock valued at $4,739,000 after acquiring an additional 256,275 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after acquiring an additional 2,497,689 shares during the period. Institutional investors own 93.09% of the company’s stock.

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.