Chewy, Inc. (NYSE:CHWY) Receives $27.64 Average PT from Analysts

Shares of Chewy, Inc. (NYSE:CHWY) have been assigned an average recommendation of “Moderate Buy” from the twenty research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and fourteen have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $27.64.

A number of brokerages have recently weighed in on CHWY. Jefferies Financial Group dropped their target price on Chewy from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. Piper Sandler cut their target price on shares of Chewy from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, March 21st. Royal Bank of Canada lowered their price target on shares of Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Mizuho assumed coverage on shares of Chewy in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $18.00 price target on the stock. Finally, Barclays raised Chewy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $19.00 to $30.00 in a research report on Thursday, January 11th.

Insider Buying and Selling

In related news, CEO Sumit Singh sold 192,642 shares of Chewy stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total value of $3,409,763.40. Following the transaction, the chief executive officer now owns 1,307,025 shares in the company, valued at approximately $23,134,342.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chewy news, CEO Sumit Singh sold 192,642 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $3,409,763.40. Following the sale, the chief executive officer now owns 1,307,025 shares of the company’s stock, valued at approximately $23,134,342.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Satish Mehta sold 40,523 shares of Chewy stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $717,257.10. Following the completion of the transaction, the chief technology officer now directly owns 557,058 shares in the company, valued at $9,859,926.60. The disclosure for this sale can be found here. In the last three months, insiders sold 250,169 shares of company stock valued at $4,396,079. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Several large investors have recently bought and sold shares of the stock. Baillie Gifford & Co. increased its holdings in shares of 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 purchasing an additional 2,654,376 shares during the period. Vanguard Group Inc. grew its position in Chewy by 13.5% during the fourth quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock worth $226,959,000 after buying an additional 1,140,269 shares in the last quarter. Voya Investment Management LLC increased its stake in Chewy by 27.9% during the fourth quarter. Voya Investment Management LLC now owns 6,564,258 shares of the company’s stock valued at $155,113,000 after acquiring an additional 1,430,897 shares during the period. Wellington Management Group LLP increased its stake in Chewy by 19.0% during the first quarter. Wellington Management Group LLP now owns 5,369,539 shares of the company’s stock valued at $218,969,000 after acquiring an additional 856,909 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in Chewy by 9.9% in the 4th quarter. Neuberger Berman Group LLC now owns 4,080,660 shares of the company’s stock valued at $96,426,000 after acquiring an additional 367,939 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Trading Up 6.7 %

NYSE:CHWY opened at $18.57 on Friday. The business’s fifty day moving average price is $16.93 and its 200 day moving average price is $18.75. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 232.13, a PEG ratio of 8.76 and a beta of 0.90. Chewy has a 1-year low of $15.08 and a 1-year high of $40.78.

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 website www.chewy.com, as well as mobile applications.