Chewy (NYSE:CHWY) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Chewy (NYSE:CHWY) had its target price upped by The Goldman Sachs Group from $40.00 to $45.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 33.97% from the company’s previous close.

CHWY has been the subject of a number of other research reports. Royal Bank of Canada boosted their price objective on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Wolfe Research upgraded Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Seaport Res Ptn raised Chewy to a “hold” rating in a report on Monday. Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $34.00 to $47.00 in a report on Monday, January 13th. Finally, Barclays boosted their price target on Chewy from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and a consensus price target of $38.53.

Chewy Trading Up 1.0 %

NYSE:CHWY traded up $0.34 on Thursday, hitting $33.59. The company’s stock had a trading volume of 1,598,498 shares, compared to its average volume of 7,426,767. Chewy has a one year low of $14.69 and a one year high of $40.09. The firm has a market capitalization of $13.68 billion, a P/E ratio of 36.85, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. The stock has a fifty day moving average of $36.09 and a two-hundred day moving average of $33.14.

Insider Transactions at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 191,096 shares of Chewy stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.68, for a total value of $6,818,305.28. Following the transaction, the chief executive officer now directly owns 707,126 shares in the company, valued at $25,230,255.68. The trade was a 21.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,083,269 shares of company stock worth $290,611,129. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

A number of hedge funds have recently made changes to their positions in CHWY. Banque Transatlantique SA bought a new stake in Chewy in the fourth quarter valued at approximately $30,000. Fifth Third Bancorp lifted its position in shares of Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares during the period. Blue Trust Inc. boosted its stake in shares of Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Chewy during the third quarter worth $63,000. Finally, Gordian Capital Singapore Pte Ltd bought a new position in Chewy during the fourth quarter worth $67,000. 93.09% of the stock is currently 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.