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

Chewy (NYSE:CHWY - Get Free Report) had its price target decreased by Citigroup from $18.00 to $16.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Citigroup's target price indicates a potential upside of 3.43% from the stock's current price.

Several other equities analysts have also recently weighed in on the company. Mizuho began coverage on Chewy in a report on Tuesday, March 19th. They issued a "neutral" rating and a $18.00 price objective for the company. Royal Bank of Canada decreased their price objective on Chewy from $35.00 to $22.00 and set an "outperform" rating for the company in a report on Friday, March 22nd. Bank of America reduced their price target on Chewy from $17.00 to $16.50 and set an "underperform" rating for the company in a report on Thursday, March 21st. Wedbush reaffirmed an "outperform" rating and issued a $25.00 price objective on shares of Chewy in a research report on Thursday, March 21st. Finally, Needham & Company LLC reissued a "buy" rating and set a $25.00 target price on shares of Chewy in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Chewy has an average rating of "Moderate Buy" and a consensus target price of $26.83.

Chewy Price Performance

CHWY stock traded down $0.51 during trading hours on Tuesday, reaching $15.47. 7,139,888 shares of the stock were exchanged, compared to its average volume of 8,752,141. The firm's 50-day moving average is $16.61 and its 200-day moving average is $18.51. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 192.65, a PEG ratio of 8.28 and a beta of 0.91. Chewy has a 12 month low of $14.69 and a 12 month high of $40.78.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts forecast that Chewy will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Chewy

In other Chewy news, CAO Stacy Bowman sold 8,025 shares of the firm's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $124,628.25. Following the transaction, the chief accounting officer now directly owns 243,769 shares of the company's stock, valued at approximately $3,785,732.57. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Stacy Bowman sold 8,025 shares of Chewy stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total transaction of $124,628.25. Following the sale, the chief accounting officer now directly owns 243,769 shares of the company's stock, valued at approximately $3,785,732.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sumit Singh sold 46,090 shares of Chewy stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $696,880.80. Following the sale, the chief executive officer now directly owns 1,379,100 shares in the company, valued at $20,851,992. The disclosure for this sale can be found here. Insiders have sold a total of 69,993 shares of company stock valued at $1,067,363 in the last ninety days. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chewy

Several hedge funds and other institutional investors have recently made changes to their positions in CHWY. Baillie Gifford & Co. boosted its position in Chewy by 16.8% during the 4th quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company's stock worth $436,748,000 after buying an additional 2,654,376 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Chewy in the 4th quarter worth approximately $42,223,000. Bank of New York Mellon Corp lifted its position in shares of Chewy by 101.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company's stock worth $63,518,000 after purchasing an additional 1,751,131 shares during the period. Vanguard Group Inc. lifted its position in shares of Chewy by 13.5% in the 4th quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company's stock worth $226,959,000 after purchasing an additional 1,140,269 shares during the period. Finally, Qube Research & Technologies Ltd lifted its position in shares of Chewy by 141.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,188,823 shares of the company's stock worth $21,708,000 after purchasing an additional 695,907 shares during the period. 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.