Citigroup Issues Positive Forecast for Chewy (NYSE:CHWY) Stock Price

Chewy (NYSE:CHWY - Free Report) had its target price upped by Citigroup from $40.00 to $42.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

CHWY has been the subject of several other research reports. Wedbush reaffirmed an "outperform" rating and set a $39.00 target price on shares of Chewy in a research note on Thursday. Evercore ISI upgraded Chewy from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $34.00 to $47.00 in a research note on Monday, January 13th. Piper Sandler lifted their price objective on Chewy from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Monday, December 2nd. UBS Group raised their target price on Chewy from $30.00 to $34.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Finally, Barclays boosted their price target on shares of Chewy from $40.00 to $44.00 and gave the stock an "overweight" rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.68.

Chewy Stock Performance

Shares of NYSE:CHWY traded up $0.44 during midday trading on Thursday, hitting $32.61. The company's stock had a trading volume of 4,610,640 shares, compared to its average volume of 7,546,965. The company has a market cap of $13.28 billion, a P/E ratio of 35.83, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. Chewy has a 12-month low of $14.69 and a 12-month high of $40.09. The business's 50 day simple moving average is $35.90 and its 200 day simple moving average is $33.23.

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Chewy (NYSE:CHWY - Get Free Report) last released 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 the consensus estimate of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. Chewy's quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 EPS. On average, sell-side analysts predict that Chewy will post 0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.77, for a total value of $250,390,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 63,187 shares of Chewy stock in a transaction on Monday, January 6th. The shares were sold at an average price of $37.62, for a total transaction of $2,377,094.94. Following the completion of the transaction, the chief executive officer now directly owns 643,939 shares in the company, valued at $24,224,985.18. The trade was a 8.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,083,269 shares of company stock valued at $290,611,129. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chewy

Several hedge funds have recently made changes to their positions in CHWY. Banque Transatlantique SA acquired a new position in Chewy in the 4th quarter valued at about $30,000. Fifth Third Bancorp increased its holdings 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 purchasing an additional 444 shares during the period. Blue Trust Inc. raised its stake in shares of 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 purchasing an additional 320 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Chewy by 52.0% during the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company's stock worth $71,000 after purchasing an additional 650 shares during the period. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Chewy in the 4th quarter valued at $67,000. Institutional investors and hedge funds 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.