Barclays Issues Positive Forecast for Chewy (NYSE:CHWY) Stock Price

Chewy (NYSE:CHWY) had its target price raised by analysts at Barclays from $40.00 to $44.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 34.22% from the company’s current price.

Several other research firms have also weighed in on CHWY. Morgan Stanley upped their target price on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Piper Sandler raised their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Seaport Res Ptn raised Chewy to a “hold” rating in a report on Monday. The Goldman Sachs Group increased their price target on Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, UBS Group lifted their price objective on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.16.

Chewy Stock Performance

Shares of CHWY stock opened at $32.78 on Thursday. The firm has a fifty day moving average of $36.09 and a 200-day moving average of $33.14. Chewy has a 52-week low of $14.69 and a 52-week high of $40.09. The stock has a market cap of $13.35 billion, a price-to-earnings ratio of 36.03, a P/E/G ratio of 2.21 and a beta of 1.23.

Insiders Place Their Bets

In other Chewy news, CFO David Reeder sold 307,558 shares of Chewy stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $37.48, for a total transaction of $11,527,273.84. Following the transaction, the chief financial officer now directly owns 546,257 shares in the company, valued at approximately $20,473,712.36. The trade was a 36.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Satish Mehta sold 71,365 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the sale, the chief technology officer now directly owns 262,853 shares in the company, valued at approximately $9,357,566.80. This represents a 21.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,083,269 shares of company stock worth $290,611,129. Insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Large investors have recently bought and sold shares of the business. California State Teachers Retirement System boosted its holdings in shares of Chewy by 16.5% in the fourth quarter. California State Teachers Retirement System now owns 155,785 shares of the company’s stock valued at $5,217,000 after buying an additional 22,033 shares during the period. Centaurus Financial Inc. acquired a new position in Chewy in the 4th quarter worth $154,000. Integrated Advisors Network LLC acquired a new stake in shares of Chewy in the 4th quarter valued at about $235,000. Polar Asset Management Partners Inc. lifted its holdings in shares of Chewy by 26.5% in the fourth quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company’s stock valued at $9,670,000 after purchasing an additional 60,533 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Chewy in the fourth quarter valued at about $318,000. 93.09% of the stock is owned by 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.