Chewy (NYSE:CHWY) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Chewy (NYSE:CHWY) in a research note released on Wednesday morning, Marketbeat Ratings reports.

Several other equities analysts have also commented on the company. Barclays upped their target price on Chewy from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Guggenheim boosted their target price on shares of Chewy from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Wolfe Research initiated coverage on Chewy in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. TD Cowen assumed coverage on Chewy in a research report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price on the stock. Finally, Bank of America increased their target price on shares of Chewy from $20.00 to $24.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.55.

Chewy Stock Performance

Shares of Chewy stock opened at $27.46 on Wednesday. The firm has a market cap of $11.94 billion, a PE ratio of 152.56, a price-to-earnings-growth ratio of 3.04 and a beta of 1.05. Chewy has a 1 year low of $14.69 and a 1 year high of $39.10. The firm’s 50-day simple moving average is $28.68 and its 200-day simple moving average is $23.86.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. On average, equities analysts predict that Chewy will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the sale, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at approximately $31,097,547.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Chewy news, CEO Sumit Singh sold 14,338 shares of Chewy stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the transaction, the chief executive officer now directly owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total value of $789,999,991.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,138,627 shares of company stock valued at $827,147,620. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chewy

Several institutional investors and hedge funds have recently bought and sold shares of the business. BC Partners Advisors L.P. acquired a new stake in shares of Chewy during the second quarter worth approximately $7,517,800,000. Marshall Wace LLP boosted its stake in shares of Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after buying an additional 2,636,526 shares during the period. Fiera Capital Corp acquired a new position in shares of Chewy in the second quarter worth $44,373,000. Clearbridge Investments LLC acquired a new stake in Chewy during the second quarter valued at $40,798,000. Finally, Baillie Gifford & Co. grew its stake in Chewy by 7.2% in the first quarter. Baillie Gifford & Co. now owns 19,819,195 shares of the company’s stock valued at $315,323,000 after purchasing an additional 1,336,431 shares in the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

About Chewy

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.