Chewy (NYSE:CHWY) Price Target Raised to $43.00 at Mizuho

Chewy (NYSE:CHWY) had its price target hoisted by equities research analysts at Mizuho from $42.00 to $43.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 29.64% from the company’s previous close.

Several other equities research analysts have also recently weighed in on CHWY. Evercore ISI upgraded Chewy from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $34.00 to $47.00 in a research note on Monday, January 13th. Citigroup raised their price objective on Chewy from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley increased their target price on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Wolfe Research raised shares of Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.68.

Chewy Stock Performance

Shares of Chewy stock traded down $0.08 on Thursday, reaching $33.17. 3,142,974 shares of the stock were exchanged, compared to its average volume of 5,278,009. The firm has a market cap of $13.51 billion, a PE ratio of 36.45, a P/E/G ratio of 2.21 and a beta of 1.23. The firm’s 50 day moving average is $36.09 and its 200-day moving average is $33.14. Chewy has a one year low of $14.69 and a one year high of $40.09.

Insider Activity at Chewy

In other Chewy news, CEO Sumit Singh sold 9,285 shares of Chewy stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $371,400.00. Following the completion of the sale, the chief executive officer now directly owns 489,750 shares in the company, valued at approximately $19,590,000. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 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 over the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Banque Transatlantique SA acquired a new stake in shares of Chewy in the 4th quarter valued at about $30,000. Fifth Third Bancorp increased its holdings in shares of Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after acquiring an additional 444 shares in the last quarter. Blue Trust Inc. raised its position 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 period. Wilmington Savings Fund Society FSB bought a new position in shares of Chewy in the 3rd quarter worth $63,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Chewy in the 4th quarter valued at $67,000. 93.09% of the stock is owned by institutional investors.

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.