Barclays Raises Chewy (NYSE:CHWY) Price Target to $34.00

Chewy (NYSE:CHWY) had its price target lifted by Barclays from $32.00 to $34.00 in a report published on Thursday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the company. Wolfe Research started coverage on Chewy in a research report on Tuesday, July 16th. They set a peer perform rating for the company. Needham & Company LLC increased their target price on shares of Chewy from $25.00 to $30.00 and gave the company a buy rating in a research report on Wednesday, May 29th. JPMorgan Chase & Co. boosted their price target on shares of Chewy from $28.00 to $33.00 and gave the company an overweight rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on Chewy from $18.00 to $20.00 and gave the stock a hold rating in a research report on Thursday, May 30th. Finally, Guggenheim lifted their price target on Chewy from $25.00 to $32.00 and gave the stock a buy rating in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $29.15.

Chewy Stock Performance

Shares of Chewy stock opened at $28.55 on Thursday. Chewy has a one year low of $14.69 and a one year high of $39.10. The company has a market cap of $12.42 billion, a PE ratio of 158.61, a P/E/G ratio of 3.69 and a beta of 1.03. The business has a 50-day simple moving average of $25.69 and a 200-day simple moving average of $20.58.

Insiders Place Their Bets

In related news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total transaction of $40,576,103.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the transaction, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at approximately $31,097,547.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $30.32, for a total transaction of $40,576,103.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,906,141 shares of company stock worth $540,973,233. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chewy

Several large investors have recently added to or reduced their stakes in the business. Clearbridge Investments LLC acquired a new position in Chewy during the second quarter worth approximately $40,798,000. Cetera Investment Advisers grew its stake in shares of Chewy by 10.9% during the 2nd quarter. Cetera Investment Advisers now owns 91,831 shares of the company’s stock valued at $2,501,000 after buying an additional 9,039 shares during the period. Truist Financial Corp increased its holdings in shares of Chewy by 39.3% during the 2nd quarter. Truist Financial Corp now owns 20,732 shares of the company’s stock worth $565,000 after buying an additional 5,847 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Chewy by 74.0% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 49,357 shares of the company’s stock worth $1,344,000 after buying an additional 20,998 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Chewy during the second quarter valued at about $11,916,000. 93.09% of the stock is currently 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.