Chewy (NYSE:CHWY) Price Target Raised to $40.00

Chewy (NYSE:CHWY) had its price target hoisted by equities research analysts at Piper Sandler from $35.00 to $40.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 18.10% from the stock’s previous close.

CHWY has been the subject of a number of other reports. Robert W. Baird increased their price objective on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. JPMorgan Chase & Co. upped their price target on Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Raymond James downgraded shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Morgan Stanley increased their target price on shares of Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, Wedbush reiterated an “outperform” rating and issued a $35.00 price target on shares of Chewy in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.60.

Chewy Trading Up 1.4 %

CHWY opened at $33.87 on Monday. The firm’s fifty day simple moving average is $30.16 and its 200 day simple moving average is $26.75. The stock has a market capitalization of $14.16 billion, a P/E ratio of 41.30, a P/E/G ratio of 3.13 and a beta of 1.06. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Castellan Group bought a new position in shares of Chewy during the third quarter worth approximately $5,282,000. Wilmington Savings Fund Society FSB acquired a new stake in Chewy during the third quarter worth approximately $63,000. Virtu Financial LLC bought a new position in Chewy during the 3rd quarter worth $795,000. Geode Capital Management LLC raised its holdings in Chewy by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after acquiring an additional 119,633 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Chewy by 19.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 58,661 shares of the company’s stock valued at $1,718,000 after acquiring an additional 9,548 shares during the period. Institutional investors 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.