Citigroup Increases Chewy (NYSE:CHWY) Price Target to $42.00

Chewy (NYSE:CHWY) had its price target increased by Citigroup from $40.00 to $42.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 24.56% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday. JMP Securities reissued a “market outperform” rating and set a $37.00 price target on shares of Chewy in a research report on Monday, December 16th. UBS Group increased their price objective on Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. 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 equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Chewy currently has an average rating of “Moderate Buy” and an average target price of $38.63.

Chewy Stock Up 1.4 %

Shares of NYSE CHWY traded up $0.47 during mid-day trading on Thursday, hitting $33.72. 2,505,026 shares of the company traded hands, compared to its average volume of 7,429,636. Chewy has a 1 year low of $14.69 and a 1 year high of $40.09. The stock has a market capitalization of $13.73 billion, a price-to-earnings ratio of 37.14, a PEG ratio of 2.21 and a beta of 1.23. The business has a 50 day moving average of $36.09 and a two-hundred day moving average of $33.14.

Insider Transactions at Chewy

In related news, CEO Sumit Singh sold 191,096 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was 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 of the company’s stock, valued at approximately $25,230,255.68. This represents a 21.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of Chewy stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,083,269 shares of company stock valued at $290,611,129 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chewy

Several hedge funds have recently modified their holdings of CHWY. Banque Transatlantique SA acquired a new position in Chewy during the fourth quarter valued at approximately $30,000. Fifth Third Bancorp grew its stake in shares of Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after buying an additional 444 shares in the last quarter. Blue Trust Inc. increased its holdings in Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after buying an additional 320 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Chewy during the third quarter worth $63,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Chewy in the fourth quarter valued at $67,000. 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.