Chewy (NYSE:CHWY) Price Target Raised to $49.00

Chewy (NYSE:CHWY - Get Free Report) had its price objective hoisted by stock analysts at Citigroup from $42.00 to $49.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's target price would indicate a potential upside of 18.82% from the company's previous close.

Other analysts have also issued reports about the company. UBS Group raised their target price on Chewy from $36.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Seaport Res Ptn upgraded Chewy to a "hold" rating in a research report on Monday, March 24th. Barclays lifted their price objective on Chewy from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Evercore ISI lifted their price objective on Chewy from $47.00 to $52.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, The Goldman Sachs Group lifted their price objective on Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.72.

Chewy Price Performance

Shares of NYSE:CHWY traded up $0.48 during midday trading on Thursday, reaching $41.24. The company's stock had a trading volume of 9,387,254 shares, compared to its average volume of 6,949,193. Chewy has a fifty-two week low of $19.75 and a fifty-two week high of $48.62. The company has a market capitalization of $17.06 billion, a P/E ratio of 45.32, a P/E/G ratio of 2.21 and a beta of 1.75. The business's fifty day simple moving average is $39.44 and its 200-day simple moving average is $36.53.

Chewy (NYSE:CHWY - Get Free Report) last announced its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company posted $0.31 earnings per share. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts forecast that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO David Reeder sold 7,863 shares of Chewy stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $36.50, for a total transaction of $286,999.50. Following the transaction, the chief financial officer now owns 11,582 shares in the company, valued at $422,743. The trade was a 40.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Satish Mehta sold 9,243 shares of Chewy stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $36.50, for a total value of $337,369.50. Following the transaction, the chief technology officer now owns 276,467 shares in the company, valued at $10,091,045.50. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 236,046 shares of company stock worth $9,387,635 in the last 90 days. Corporate insiders own 0.43% of the company's stock.

Hedge Funds Weigh In On Chewy

Several institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new stake in Chewy in the 4th quarter valued at approximately $578,000. Wilmington Savings Fund Society FSB lifted its stake in Chewy by 30.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company's stock valued at $94,000 after acquiring an additional 650 shares in the last quarter. Summit Trail Advisors LLC bought a new stake in Chewy in the 4th quarter valued at approximately $225,000. Louisiana State Employees Retirement System bought a new stake in Chewy in the 4th quarter valued at approximately $1,530,000. Finally, Van ECK Associates Corp lifted its stake in Chewy by 1,391.3% in the 4th quarter. Van ECK Associates Corp now owns 142,558 shares of the company's stock valued at $4,774,000 after acquiring an additional 132,999 shares in the last quarter. 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.