Chewy’s (CHWY) “Hold” Rating Reiterated at Needham & Company LLC

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

Other analysts have also recently issued research reports about the company. Piper Sandler upped their price objective on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. UBS Group increased their price objective on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group boosted their target price on shares of Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.68.

Chewy Stock Performance

NYSE CHWY opened at $32.20 on Thursday. Chewy has a one year low of $14.69 and a one year high of $40.09. The stock has a 50-day moving average of $35.90 and a 200 day moving average of $33.21. The company has a market capitalization of $13.11 billion, a price-to-earnings ratio of 35.39, a PEG ratio of 2.21 and a beta of 1.23.

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

Insiders Place Their Bets

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of Chewy stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.77, for a total value of $250,390,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of the stock in a transaction that occurred 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 transaction, the chief technology officer now owns 262,853 shares of the company’s stock, valued at $9,357,566.80. This represents a 21.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,083,269 shares of company stock worth $290,611,129 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Chewy

A number of large investors have recently made changes to their positions in CHWY. Vanguard Group Inc. grew its position in Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock worth $485,093,000 after acquiring an additional 3,493,926 shares in the last quarter. FMR LLC lifted its stake in shares of Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after purchasing an additional 2,497,689 shares during the last quarter. Durable Capital Partners LP purchased a new position in shares of Chewy in the 4th quarter worth approximately $79,050,000. Invesco Ltd. increased its position in shares of Chewy by 4,577.5% during the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock valued at $73,381,000 after purchasing an additional 2,144,302 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Chewy during the 4th quarter valued at $69,789,000. 93.09% of the stock is currently owned by institutional investors.

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.