Chewy (NYSE:CHWY) Given New $42.00 Price Target at Citigroup

Chewy (NYSE:CHWY) had its price objective hoisted by Citigroup from $40.00 to $42.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

CHWY has been the subject of a number of other reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 price target on shares of Chewy in a research report on Thursday. UBS Group increased their target price on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Argus raised Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. BNP Paribas downgraded shares of Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. Finally, Morgan Stanley boosted their target price on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Chewy has a consensus rating of “Moderate Buy” and a consensus target price of $38.68.

Chewy Trading Down 1.7 %

CHWY stock opened at $32.68 on Thursday. The company has a market cap of $13.31 billion, a PE ratio of 35.91, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. The stock has a 50-day moving average price of $36.00 and a two-hundred day moving average price of $33.13. Chewy has a 12-month low of $14.69 and a 12-month high of $40.09.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.25. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. Equities analysts forecast that Chewy will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $35.77, for a total value of $250,390,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 63,187 shares of Chewy stock in a transaction on Monday, January 6th. The shares were sold at an average price of $37.62, for a total value of $2,377,094.94. Following the sale, the chief executive officer now directly owns 643,939 shares in the company, valued at $24,224,985.18. The trade was a 8.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,083,269 shares of company stock worth $290,611,129 over the last ninety days. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Chewy

Institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System raised its holdings in Chewy by 16.5% during the fourth quarter. California State Teachers Retirement System now owns 155,785 shares of the company’s stock worth $5,217,000 after purchasing an additional 22,033 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in shares of Chewy in the fourth quarter valued at $154,000. Integrated Advisors Network LLC bought a new position in Chewy during the fourth quarter valued at about $235,000. Polar Asset Management Partners Inc. grew its holdings in Chewy by 26.5% during the fourth quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company’s stock worth $9,670,000 after acquiring an additional 60,533 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in Chewy in the fourth quarter worth about $318,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

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.