UBS Group Increases Chewy (NYSE:CHWY) Price Target to $34.00

Chewy (NYSE:CHWY) had its target price lifted by research analysts at UBS Group from $30.00 to $34.00 in a note issued to investors on Tuesday. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 0.38% from the company’s previous close.

Several other research analysts have also weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Bank of America raised Chewy from an “underperform” rating to a “buy” rating and boosted their price target for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. Barclays lifted their target price on shares of Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft raised 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. Finally, Piper Sandler upped their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.80.

Chewy Stock Up 0.7 %

Shares of NYSE CHWY traded up $0.24 during mid-day trading on Tuesday, hitting $33.87. 5,518,641 shares of the company traded hands, compared to its average volume of 8,583,661. The business has a 50 day moving average of $30.16 and a two-hundred day moving average of $26.75. The stock has a market capitalization of $14.16 billion, a price-to-earnings ratio of 41.49, a PEG ratio of 3.13 and a beta of 1.12. Chewy has a 1 year low of $14.69 and a 1 year high of $39.10.

Insider Buying and Selling at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHWY. Castellan Group purchased a new stake in Chewy during the third quarter valued at approximately $5,282,000. Wilmington Savings Fund Society FSB purchased a new position in Chewy during the 3rd quarter valued at $63,000. Virtu Financial LLC purchased a new stake in Chewy in the third quarter worth $795,000. Geode Capital Management LLC boosted its stake in shares of Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after purchasing an additional 119,633 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its stake in Chewy by 19.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 58,661 shares of the company’s stock worth $1,718,000 after buying an additional 9,548 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.