Chewy’s (CHWY) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Chewy (NYSE:CHWY) in a report issued on Thursday,Benzinga reports.

Several other analysts also recently commented on the company. JPMorgan Chase & Co. raised their price objective on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. The Goldman Sachs Group raised 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. Evercore ISI upgraded Chewy from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $34.00 to $47.00 in a research report on Monday, January 13th. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Finally, Guggenheim set a $42.00 price objective on shares of Chewy and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.68.

Chewy Trading Down 1.7 %

NYSE:CHWY opened at $32.68 on Thursday. Chewy has a 1-year low of $14.69 and a 1-year high of $40.09. The firm has a market capitalization of $13.31 billion, a price-to-earnings ratio of 35.91, a PEG ratio of 2.21 and a beta of 1.23. The business’s 50-day moving average price is $36.00 and its two-hundred day moving average price is $33.13.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.25. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter last year, the firm earned $0.07 EPS. Chewy’s quarterly revenue was up 15.0% compared to the same quarter last year. Sell-side analysts predict that Chewy will post 0.24 earnings per share for the current year.

Insider Activity

In other news, CEO Sumit Singh sold 63,187 shares of Chewy stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $37.62, for a total transaction of $2,377,094.94. Following the completion of the transaction, the chief executive officer now directly owns 643,939 shares in the company, valued at approximately $24,224,985.18. The trade was a 8.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Satish Mehta sold 71,365 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the sale, the chief technology officer now owns 262,853 shares in the company, valued at approximately $9,357,566.80. This trade represents a 21.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,083,269 shares of company stock valued at $290,611,129 in the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Banque Transatlantique SA bought a new position in Chewy in the 4th quarter valued at about $30,000. Fifth Third Bancorp grew its position in shares of Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after purchasing an additional 444 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after purchasing an additional 320 shares during the period. Allworth Financial LP lifted its holdings in Chewy by 52.0% during the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after purchasing an additional 650 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Chewy in the 4th quarter valued at $67,000. Institutional investors own 93.09% of the company’s stock.

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.