Chewy (NYSE:CHWY) Price Target Lowered to $16.00 at Citigroup

Chewy (NYSE:CHWY) had its price objective trimmed by Citigroup from $18.00 to $16.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. Piper Sandler lowered their price target on Chewy from $19.00 to $16.00 and set a neutral rating on the stock in a report on Tuesday, April 23rd. Jefferies Financial Group decreased their price target on Chewy from $27.00 to $25.00 and set a buy rating for the company in a report on Thursday, March 21st. Bank of America cut their price objective on shares of Chewy from $17.00 to $16.50 and set an underperform rating for the company in a research report on Thursday, March 21st. Wedbush reissued an outperform rating and set a $25.00 price target on shares of Chewy in a report on Thursday, March 21st. Finally, The Goldman Sachs Group cut their target price on Chewy from $36.00 to $32.00 and set a buy rating for the company in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Chewy presently has a consensus rating of Moderate Buy and an average target price of $26.83.

Chewy Stock Performance

Shares of CHWY stock opened at $15.47 on Tuesday. Chewy has a 1 year low of $14.69 and a 1 year high of $40.78. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of 193.40, a PEG ratio of 8.28 and a beta of 0.91. The stock’s 50-day moving average is $16.57 and its two-hundred day moving average is $18.50.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Chewy had a return on equity of 11.69% and a net margin of 0.33%. As a group, research analysts predict that Chewy will post 0.08 EPS for the current year.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 8,019 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total transaction of $121,247.28. Following the transaction, the chief technology officer now owns 569,594 shares in the company, valued at $8,612,261.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Sumit Singh sold 6,728 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $104,485.84. Following the completion of the sale, the chief executive officer now directly owns 129,991 shares in the company, valued at $2,018,760.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Satish Mehta sold 8,019 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $121,247.28. Following the completion of the transaction, the chief technology officer now directly owns 569,594 shares of the company’s stock, valued at approximately $8,612,261.28. The disclosure for this sale can be found here. In the last three months, insiders sold 69,993 shares of company stock valued at $1,067,363. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Headinvest LLC bought a new position in shares of Chewy during the third quarter worth about $39,000. Quest Partners LLC bought a new stake in shares of Chewy in the 4th quarter valued at approximately $65,000. Signaturefd LLC lifted its stake in Chewy by 37.8% during the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after purchasing an additional 922 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Chewy by 15.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock valued at $95,000 after purchasing an additional 543 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Chewy in the 1st quarter worth about $65,000. 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.