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

Needham & Company LLC restated their hold rating on shares of Chewy (NYSE:CHWY) in a research report sent to investors on Thursday morning,Benzinga reports.

Other equities analysts have also issued reports about the company. Citigroup raised Chewy from a “neutral” rating to a “buy” rating and upped their target price for the company from $28.00 to $40.00 in a report on Friday, November 8th. Wedbush restated an “outperform” rating and set a $35.00 price objective on shares of Chewy in a research note on Thursday, August 29th. Robert W. Baird raised their target price on Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Finally, Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $40.00 in a research report on Wednesday, November 20th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Chewy presently has an average rating of “Moderate Buy” and an average target price of $34.15.

Chewy Price Performance

Shares of CHWY opened at $31.58 on Thursday. The stock has a market capitalization of $13.20 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 3.14 and a beta of 1.12. The business’s fifty day moving average price is $30.46 and its 200 day moving average price is $27.24. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 20.86%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period last year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts anticipate that Chewy will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Satish Mehta sold 8,056 shares of Chewy stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the transaction, the chief technology officer now owns 585,962 shares in the company, valued at $19,612,148.14. The trade was a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,128,804 shares of company stock valued at $827,019,626 over the last three months. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in Chewy during the second quarter valued at about $11,916,000. Cetera Advisors LLC acquired a new stake in shares of Chewy during the first quarter valued at approximately $334,000. Sanctuary Advisors LLC purchased a new stake in shares of Chewy in the 2nd quarter valued at approximately $673,000. Eagle Asset Management Inc. boosted its stake in Chewy by 97.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after purchasing an additional 975,647 shares during the period. Finally, Marshall Wace LLP grew its position in Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after purchasing an additional 2,636,526 shares in the last quarter. 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.