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

Chewy (NYSE:CHWY) had its price objective cut by investment analysts at Citigroup from $48.00 to $42.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 28.44% from the stock’s previous close.

CHWY has been the subject of several other research reports. Barclays dropped their target price on Chewy from $50.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, September 11th. Deutsche Bank Aktiengesellschaft raised Chewy from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Thursday, September 11th. Royal Bank Of Canada cut their price objective on Chewy from $44.00 to $43.00 and set an “outperform” rating on the stock in a research report on Thursday, September 11th. Moffett Nathanson upgraded Chewy from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Thursday, September 25th. Finally, TD Cowen lowered their target price on shares of Chewy from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.83.

Chewy Stock Down 1.8%

CHWY traded down $0.59 during trading on Monday, reaching $32.70. The company had a trading volume of 2,736,763 shares, compared to its average volume of 6,672,978. The business has a 50 day simple moving average of $36.31 and a 200-day simple moving average of $39.06. The stock has a market cap of $13.56 billion, a P/E ratio of 93.43, a PEG ratio of 8.23 and a beta of 1.67. Chewy has a 52 week low of $29.83 and a 52 week high of $48.62.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, September 10th. The company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. Chewy had a net margin of 1.22% and a return on equity of 50.45%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. As a group, equities research analysts expect that Chewy will post 0.24 EPS for the current fiscal year.

Insider Activity

In related news, CTO Satish Mehta sold 4,642 shares of Chewy stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $32.65, for a total value of $151,561.30. Following the completion of the sale, the chief technology officer directly owned 229,702 shares in the company, valued at $7,499,770.30. The trade was a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sumit Singh sold 16,289 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $32.72, for a total transaction of $532,976.08. Following the completion of the sale, the chief executive officer directly owned 563,408 shares of the company’s stock, valued at approximately $18,434,709.76. This trade represents a 2.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 27,629 shares of company stock worth $903,696. Company insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Chewy

Institutional investors have recently bought and sold shares of the business. Aigen Investment Management LP purchased a new stake in shares of Chewy during the first quarter valued at about $791,000. Jefferies Financial Group Inc. purchased a new position in shares of Chewy in the 1st quarter worth approximately $3,251,000. Y Intercept Hong Kong Ltd bought a new position in shares of Chewy during the 2nd quarter worth approximately $6,480,000. Neuberger Berman Group LLC lifted its position in Chewy by 35.7% during the first quarter. Neuberger Berman Group LLC now owns 2,304,006 shares of the company’s stock valued at $74,903,000 after acquiring an additional 606,526 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in Chewy by 28.0% during the second quarter. Mutual of America Capital Management LLC now owns 109,139 shares of the company’s stock valued at $4,652,000 after acquiring an additional 23,883 shares during the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.