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

Chewy (NYSE:CHWY) had its target price decreased by Citigroup from $48.00 to $42.00 in a report issued on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other research firms have also recently weighed in on CHWY. Wedbush restated an “outperform” rating and issued a $45.00 price objective on shares of Chewy in a research report on Thursday, September 11th. TD Cowen dropped their target price on Chewy from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chewy in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price objective on Chewy from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, September 11th. Finally, Wall Street Zen lowered shares of Chewy from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Chewy has an average rating of “Moderate Buy” and an average price target of $45.83.

Chewy Stock Up 2.2%

Chewy stock opened at $34.29 on Monday. The stock has a 50-day simple moving average of $36.05 and a 200 day simple moving average of $38.94. The stock has a market capitalization of $14.22 billion, a price-to-earnings ratio of 97.97, a P/E/G ratio of 8.29 and a beta of 1.67. Chewy has a 12-month low of $29.83 and a 12-month high of $48.62.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, September 10th. The company reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Chewy had a net margin of 1.22% and a return on equity of 50.45%. During the same quarter in the prior year, the firm earned $0.24 EPS. The company’s revenue was up 8.6% on a year-over-year basis. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. As a group, sell-side analysts anticipate that Chewy will post 0.24 EPS for the current year.

Insiders Place Their Bets

In other Chewy news, CAO William G. Billings sold 1,121 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $32.72, for a total transaction of $36,679.12. Following the completion of the transaction, the chief accounting officer owned 31,045 shares in the company, valued at approximately $1,015,792.40. This represents a 3.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sumit Singh sold 2,289 shares of Chewy stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $32.72, for a total value of $74,896.08. Following the completion of the sale, the chief executive officer directly owned 75,777 shares in the company, valued at $2,479,423.44. This represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, 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

Several hedge funds have recently made changes to their positions in the business. Quent Capital LLC bought a new position in Chewy in the third quarter valued at $27,000. Osterweis Capital Management Inc. bought a new position in shares of Chewy in the 2nd quarter valued at about $30,000. Princeton Global Asset Management LLC bought a new position in shares of Chewy in the 3rd quarter valued at about $40,000. Strategic Advocates LLC bought a new stake in Chewy in the third quarter valued at approximately $43,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Chewy in the first quarter valued at approximately $44,000. 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.