Chewy (NYSE:CHWY) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Chewy (NYSE:CHWY) in a research report released on Wednesday morning, MarketBeat.com reports.

CHWY has been the topic of several other research reports. Citigroup upped their target price on Chewy from $16.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 price objective on shares of Chewy in a report on Friday, September 20th. Royal Bank of Canada lifted their target price on Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. TD Cowen assumed coverage on shares of Chewy in a research note on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on shares of Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and a consensus price target of $29.55.

Chewy Trading Down 0.5 %

CHWY stock opened at $26.95 on Wednesday. Chewy has a 1-year low of $14.69 and a 1-year high of $39.10. The business’s 50 day simple moving average is $28.69 and its 200 day simple moving average is $23.88. The firm has a market capitalization of $11.72 billion, a PE ratio of 149.72, a PEG ratio of 3.04 and a beta of 1.05.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. As a group, sell-side analysts predict that Chewy will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 2,894 shares of Chewy stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $64,362.56. Following the transaction, the chief technology officer now owns 573,463 shares in the company, valued at $12,753,817.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Chewy news, CTO Satish Mehta sold 2,894 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $64,362.56. Following the sale, the chief technology officer now owns 573,463 shares in the company, valued at $12,753,817.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sumit Singh sold 14,338 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 28,138,627 shares of company stock worth $827,147,620 in the last ninety days. 2.10% of the stock is owned by insiders.

Institutional Trading of Chewy

Hedge funds have recently made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new position in shares of Chewy in the second quarter valued at approximately $33,000. Blue Trust Inc. increased its position in Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after acquiring an additional 905 shares during the period. Industrial Alliance Investment Management Inc. bought a new position in shares of Chewy during the second quarter valued at $44,000. First Horizon Advisors Inc. acquired a new position in shares of Chewy during the second quarter worth $48,000. Finally, Skylands Capital LLC bought a new stake in shares of Chewy in the second quarter worth $52,000. 93.09% of the stock is owned by institutional investors and hedge funds.

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.