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

Chewy (NYSE:CHWY) had its target price lifted by equities research analysts at Citigroup from $40.00 to $42.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 24.56% from the stock’s current price.

Other analysts have also recently issued reports about the company. Barclays lifted their price target on Chewy from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price objective on shares of Chewy in a report on Thursday. JPMorgan Chase & Co. boosted their price target on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley increased their price target on Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research report on Thursday. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.63.

Chewy Stock Up 1.4 %

Shares of NYSE CHWY traded up $0.47 during mid-day trading on Thursday, reaching $33.72. 2,505,026 shares of the company were exchanged, compared to its average volume of 7,429,636. Chewy has a twelve month low of $14.69 and a twelve month high of $40.09. The stock has a market capitalization of $13.73 billion, a P/E ratio of 37.14, a P/E/G ratio of 2.21 and a beta of 1.23. The company’s 50-day simple moving average is $36.09 and its 200-day simple moving average is $33.14.

Insider Activity at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sumit Singh sold 191,096 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.68, for a total value of $6,818,305.28. Following the completion of the sale, the chief executive officer now owns 707,126 shares of the company’s stock, valued at approximately $25,230,255.68. This represents a 21.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,083,269 shares of company stock worth $290,611,129 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in shares of Chewy during the fourth quarter valued at approximately $30,000. Fifth Third Bancorp increased its stake in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after purchasing an additional 444 shares in the last quarter. Blue Trust Inc. raised 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 position in shares of Chewy in the third quarter valued at $63,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in shares of Chewy during the fourth quarter valued at about $67,000. 93.09% of the stock is owned by institutional investors and hedge funds.

About Chewy

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.