Brokerages Set Chewy (NYSE:CHWY) PT at $32.05

Chewy (NYSE:CHWY) has received a consensus rating of “Moderate Buy” from the twenty-five research firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, eighteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $32.0476.

Several analysts have recently commented on the company. UBS Group decreased their target price on Chewy from $32.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on Chewy from $45.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, June 11th. Wolfe Research reaffirmed an “outperform” rating and set a $27.00 target price on shares of Chewy in a research note on Thursday, June 11th. Wall Street Zen lowered shares of Chewy from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Morgan Stanley decreased their price target on shares of Chewy from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, June 11th.

Insiders Place Their Bets

In other Chewy news, General Counsel Da-Wai Hu sold 4,203 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $19.49, for a total value of $81,916.47. Following the completion of the sale, the general counsel owned 4,103 shares in the company, valued at $79,967.47. This represents a 50.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Chewy

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Chewy by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 19,920,347 shares of the company’s stock valued at $658,367,000 after purchasing an additional 1,017,214 shares in the last quarter. Wellington Management Group LLP raised 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 worth $712,841,000 after purchasing an additional 13,171,325 shares in the last quarter. Viking Global Investors LP lifted its holdings in shares of Chewy by 146.9% during the 4th quarter. Viking Global Investors LP now owns 13,536,645 shares of the company’s stock valued at $447,386,000 after buying an additional 8,052,955 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Chewy by 10.0% during the 4th quarter. AQR Capital Management LLC now owns 11,218,840 shares of the company’s stock valued at $370,558,000 after buying an additional 1,022,694 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Chewy by 33.8% in the 4th quarter. Morgan Stanley now owns 7,660,258 shares of the company’s stock valued at $253,172,000 after buying an additional 1,937,014 shares in the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Stock Performance

Chewy stock opened at $23.48 on Monday. The company has a 50 day moving average price of $20.72 and a 200 day moving average price of $23.93. Chewy has a 52 week low of $17.40 and a 52 week high of $43.50. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of 39.14, a P/E/G ratio of 1.19 and a beta of 1.42.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.