Chewy (NYSE:CHWY) Price Target Raised to $44.00

Chewy (NYSE:CHWY) had its price objective boosted by equities research analysts at Barclays from $40.00 to $44.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 34.22% from the company’s previous close.

Several other analysts have also issued reports on the company. Seaport Res Ptn upgraded Chewy to a “hold” rating in a report on Monday. Argus upgraded Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Guggenheim set a $42.00 price objective on Chewy and gave the company a “buy” rating in a report on Tuesday, February 4th. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Finally, Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and increased their price target for the company from $24.00 to $42.00 in a research note on Monday, January 6th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.16.

Chewy Trading Down 1.4 %

Shares of CHWY stock opened at $32.78 on Thursday. The firm’s fifty day moving average price is $36.09 and its two-hundred day moving average price is $33.14. Chewy has a 1 year low of $14.69 and a 1 year high of $40.09. The firm has a market capitalization of $13.35 billion, a P/E ratio of 36.03, a PEG ratio of 2.21 and a beta of 1.23.

Insiders Place Their Bets

In related news, CFO David Reeder sold 307,558 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $37.48, for a total value of $11,527,273.84. Following the completion of the transaction, the chief financial officer now owns 546,257 shares of the company’s stock, valued at $20,473,712.36. The trade was a 36.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sumit Singh sold 4,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $37.52, for a total transaction of $150,080.00. Following the completion of the transaction, the chief executive officer now directly owns 518,581 shares in the company, valued at approximately $19,457,159.12. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,083,269 shares of company stock worth $290,611,129 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Chewy

Several large investors have recently made changes to their positions in CHWY. Vanguard Group Inc. lifted its stake in Chewy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock worth $485,093,000 after purchasing an additional 3,493,926 shares during the last quarter. FMR LLC lifted its position in shares of Chewy by 32.4% during the 4th quarter. FMR LLC now owns 5,288,757 shares of the company’s stock worth $177,120,000 after buying an additional 1,293,428 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Chewy by 9.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company’s stock worth $150,345,000 after buying an additional 399,330 shares during the last quarter. Clearbridge Investments LLC grew its position in Chewy by 47.4% in the fourth quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company’s stock valued at $129,495,000 after acquiring an additional 1,243,981 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its position in Chewy by 5.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock valued at $81,014,000 after acquiring an additional 138,768 shares during the last quarter. Institutional investors and hedge funds 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.