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 issued to investors on Thursday morning,Benzinga reports.

CHWY has been the topic of a number of other reports. Morgan Stanley increased their price objective on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Piper Sandler lifted their price objective on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. BNP Paribas cut Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Mizuho raised Chewy from a “neutral” rating to an “outperform” rating and raised their target price for the company from $24.00 to $42.00 in a report on Monday, January 6th. Finally, Wedbush reissued an “outperform” rating and set a $39.00 price target on shares of Chewy in a report on Monday, March 17th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.68.

Chewy Trading Down 1.7 %

Shares of CHWY stock opened at $32.68 on Thursday. The stock has a market cap of $13.31 billion, a P/E ratio of 35.91, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. Chewy has a 1 year low of $14.69 and a 1 year high of $40.09. The stock has a 50 day simple moving average of $36.00 and a 200 day simple moving average of $33.13.

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

Insider Transactions at Chewy

In other news, CTO Satish Mehta sold 71,365 shares of the firm’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 completion of the transaction, the chief technology officer now directly owns 262,853 shares in the company, valued at $9,357,566.80. This trade represents a 21.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 191,096 shares of Chewy stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.68, for a total value of $6,818,305.28. Following the completion of the transaction, the chief executive officer now directly owns 707,126 shares in the company, valued at approximately $25,230,255.68. This represents a 21.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,083,269 shares of company stock worth $290,611,129. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Banque Transatlantique SA bought a new position in Chewy during the fourth quarter worth $30,000. Fifth Third Bancorp grew its holdings in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after acquiring an additional 444 shares during the period. Blue Trust Inc. raised its position in shares of Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after acquiring an additional 320 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Chewy in the 3rd quarter valued at about $63,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in shares of Chewy during the 4th quarter valued at about $67,000. Institutional investors and hedge funds 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.