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

Chewy (NYSE:CHWY)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a report released on Thursday,Benzinga reports.

CHWY has been the subject of several other research reports. Citigroup raised shares of Chewy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $28.00 to $40.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price target on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Evercore ISI upped their price objective on Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Finally, UBS Group upped their price target on Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Chewy presently has an average rating of “Moderate Buy” and a consensus target price of $34.15.

Chewy Stock Performance

Chewy stock opened at $31.59 on Thursday. The firm has a 50 day moving average price of $30.42 and a 200 day moving average price of $27.06. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $39.10. The company has a market capitalization of $13.21 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 3.15 and a beta of 1.12.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the previous year, the business earned ($0.08) EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts forecast that Chewy will post 0.33 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Satish Mehta sold 8,056 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the transaction, the chief technology officer now directly owns 585,962 shares in the company, valued at approximately $19,612,148.14. This trade represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The disclosure for this sale can be found here. Insiders have sold 28,128,804 shares of company stock worth $827,019,626 in the last ninety days. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors 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 about $7,517,800,000. Marshall Wace LLP raised its stake in 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 acquiring an additional 2,636,526 shares during the last quarter. FMR LLC lifted its position in Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after acquiring an additional 2,497,689 shares during the period. Fiera Capital Corp purchased a new position in shares of Chewy in the 2nd quarter valued at approximately $44,373,000. Finally, Clearbridge Investments LLC acquired a new position in shares of Chewy in the second quarter valued at approximately $40,798,000. 93.09% of the stock is owned by hedge funds and other 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.