Chewy (NYSE:CHWY) Earns “Hold” Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Chewy (NYSE:CHWY) in a research note issued to investors on Thursday morning,Benzinga reports.

CHWY has been the subject of several other reports. Wedbush reissued an “outperform” rating and issued a $39.00 price objective on shares of Chewy in a research report on Monday, March 17th. UBS Group boosted their price target on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Piper Sandler raised their price objective on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. increased their price target on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.68.

Chewy Stock Performance

Shares of NYSE CHWY opened at $32.20 on Thursday. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $40.09. The company has a market cap of $13.11 billion, a price-to-earnings ratio of 35.39, a PEG ratio of 2.21 and a beta of 1.23. The business’s 50 day moving average price is $35.90 and its 200-day moving average price is $33.21.

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

Insider Activity at Chewy

In related news, CTO Satish Mehta sold 71,365 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the transaction, the chief technology officer now directly owns 262,853 shares of the company’s stock, valued at $9,357,566.80. This represents a 21.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sumit Singh sold 9,285 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $371,400.00. Following the completion of the sale, the chief executive officer now directly owns 489,750 shares of the company’s stock, valued at approximately $19,590,000. This represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,083,269 shares of company stock valued at $290,611,129 over the last 90 days. Insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Several large investors have recently bought and sold shares of CHWY. Mutual of America Capital Management LLC acquired a new stake in shares of Chewy during the fourth quarter worth $2,915,000. Centiva Capital LP acquired a new stake in Chewy during the 3rd quarter worth about $2,949,000. Raymond James Financial Inc. purchased a new stake in Chewy during the 4th quarter valued at about $69,789,000. Geode Capital Management LLC increased its holdings in shares of Chewy by 8.4% in the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after purchasing an additional 119,633 shares during the period. Finally, Birch Hill Investment Advisors LLC acquired a new position in shares of Chewy in the fourth quarter valued at about $1,174,000. Hedge funds and other 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.