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

Chewy (NYSE:CHWY) had its price objective decreased by investment analysts at Citigroup from $18.00 to $16.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 3.63% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Mizuho assumed coverage on shares of Chewy in a research note on Tuesday, March 19th. They set a “neutral” rating and a $18.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $25.00 price objective on shares of Chewy in a report on Thursday, March 21st. JMP Securities restated a “market outperform” rating and issued a $28.00 price objective on shares of Chewy in a report on Friday, March 15th. Wedbush restated an “outperform” rating and issued a $25.00 price objective on shares of Chewy in a report on Thursday, March 21st. Finally, Piper Sandler reduced their price target on shares of Chewy from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.83.

Chewy Stock Down 0.3 %

Chewy stock opened at $15.44 on Tuesday. The stock has a market cap of $6.72 billion, a P/E ratio of 193.02, a P/E/G ratio of 8.28 and a beta of 0.91. The company’s 50 day moving average price is $16.57 and its two-hundred day moving average price is $18.50. Chewy has a 52 week low of $14.69 and a 52 week high of $40.78.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, March 20th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. Chewy had a net margin of 0.33% and a return on equity of 11.69%. On average, equities analysts anticipate that Chewy will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other Chewy news, CEO Sumit Singh sold 46,090 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 1,379,100 shares in the company, valued at $20,851,992. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Sumit Singh sold 46,090 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $696,880.80. Following the completion of the transaction, the chief executive officer now owns 1,379,100 shares of the company’s stock, valued at $20,851,992. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Satish Mehta sold 8,019 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $121,247.28. Following the completion of the sale, the chief technology officer now owns 569,594 shares of the company’s stock, valued at $8,612,261.28. The disclosure for this sale can be found here. Insiders sold a total of 69,993 shares of company stock worth $1,067,363 in the last 90 days. 2.10% of the stock is owned by company insiders.

Institutional Trading of Chewy

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in Chewy by 15.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock valued at $95,000 after buying an additional 543 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in Chewy by 5.7% during the 3rd quarter. IFM Investors Pty Ltd now owns 13,371 shares of the company’s stock valued at $244,000 after purchasing an additional 723 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Chewy by 3.8% during the 3rd quarter. D.A. Davidson & CO. now owns 22,663 shares of the company’s stock valued at $414,000 after purchasing an additional 840 shares in the last quarter. Private Advisor Group LLC increased its holdings in Chewy by 7.9% during the 3rd quarter. Private Advisor Group LLC now owns 11,984 shares of the company’s stock valued at $219,000 after purchasing an additional 875 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Chewy by 37.8% in the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after buying an additional 922 shares during the period. 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.