Citigroup Lowers Chewy (NYSE:CHWY) Price Target to $42.00

Chewy (NYSE:CHWY) had its price objective dropped by analysts at Citigroup from $48.00 to $42.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 25.27% from the company’s current price.

A number of other brokerages also recently commented on CHWY. UBS Group cut their price objective on shares of Chewy from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Royal Bank Of Canada cut their price target on shares of Chewy from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. JPMorgan Chase & Co. reduced their price objective on shares of Chewy from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, September 11th. Deutsche Bank Aktiengesellschaft upgraded Chewy from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Thursday, September 11th. Finally, TD Cowen reduced their price target on Chewy from $50.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.83.

Chewy Stock Up 3.1%

CHWY opened at $33.53 on Monday. The business has a 50 day moving average price of $36.13 and a two-hundred day moving average price of $38.98. Chewy has a 52 week low of $29.83 and a 52 week high of $48.62. The company has a market cap of $13.91 billion, a PE ratio of 95.79, a P/E/G ratio of 8.04 and a beta of 1.67.

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

Insider Activity

In other Chewy news, CTO Satish Mehta sold 4,642 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $32.65, for a total value of $151,561.30. Following the sale, the chief technology officer owned 229,702 shares of the company’s stock, valued at $7,499,770.30. This represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William G. Billings sold 1,121 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $32.72, for a total value of $36,679.12. Following the completion of the sale, the chief accounting officer directly owned 31,045 shares in the company, valued at approximately $1,015,792.40. The trade was a 3.49% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 27,629 shares of company stock worth $903,696. Company insiders own 0.43% of the company’s stock.

Institutional Trading of Chewy

Several hedge funds and other institutional investors have recently bought and sold shares of CHWY. BC Partners PE LP acquired a new position in Chewy during the first quarter worth approximately $7,142,402,000. Wellington Management Group LLP grew its stake in shares of Chewy by 295.9% during the 3rd quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock valued at $712,841,000 after buying an additional 13,171,325 shares during the period. AQR Capital Management LLC increased its holdings in shares of Chewy by 120.2% during the 3rd quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock worth $407,948,000 after buying an additional 5,564,803 shares during the last quarter. Viking Global Investors LP acquired a new stake in shares of Chewy during the 3rd quarter worth $221,815,000. Finally, State Street Corp raised its position in shares of Chewy by 75.5% in the 2nd quarter. State Street Corp now owns 6,170,197 shares of the company’s stock worth $262,974,000 after buying an additional 2,654,496 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.