Chewy, Inc. (NYSE:CHWY) Receives $37.95 Consensus Price Target from Analysts

Shares of Chewy, Inc. (NYSE:CHWY) have received a consensus rating of “Moderate Buy” from the twenty-three research firms that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $37.95.

A number of analysts recently commented on the company. Piper Sandler increased their price objective on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley increased their price target on Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. BNP Paribas downgraded Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. Finally, JMP Securities restated a “market outperform” rating and issued a $37.00 target price on shares of Chewy in a report on Monday, December 16th.

Chewy Stock Performance

Shares of CHWY stock opened at $33.60 on Friday. Chewy has a 1 year low of $14.69 and a 1 year high of $40.09. The stock has a market cap of $13.68 billion, a PE ratio of 36.92, a P/E/G ratio of 2.21 and a beta of 1.23. The stock has a fifty day moving average price of $36.17 and a 200 day moving average price of $33.14.

Insider Activity

In other news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of Chewy stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.77, for a total value of $250,390,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 571,903 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $34.52, for a total transaction of $19,742,091.56. Following the sale, the chief executive officer now owns 898,222 shares in the company, valued at approximately $31,006,623.44. This trade represents a 38.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,655,172 shares of company stock worth $310,353,221. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chewy

Large investors have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC bought a new position in shares of Chewy during the fourth quarter worth about $2,915,000. Eagle Asset Management Inc. lifted its position in Chewy by 97.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after purchasing an additional 975,647 shares during the last quarter. Centiva Capital LP acquired a new position in Chewy during the 3rd quarter valued at about $2,949,000. Raymond James Financial Inc. bought a new position in Chewy in the 4th quarter worth about $69,789,000. Finally, Geode Capital Management LLC boosted its position in shares of Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after buying an additional 119,633 shares during the period. 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.