Chewy (NYSE:CHWY) Given Hold Rating at Needham & Company LLC

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

A number of other equities research analysts have also recently issued reports on CHWY. The Goldman Sachs Group upped their price objective on shares of Chewy from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Wedbush restated an “outperform” rating and issued a $39.00 price objective on shares of Chewy in a report on Thursday, March 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Chewy in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft set a $27.00 price target on Chewy and gave the stock a “hold” rating in a research note on Monday, April 14th. Finally, Cowen reaffirmed a “buy” rating on shares of Chewy in a report on Friday, June 6th. Eight 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, Chewy presently has an average rating of “Moderate Buy” and an average target price of $43.72.

Chewy Stock Up 1.2%

Shares of NYSE:CHWY opened at $41.24 on Thursday. The firm has a market capitalization of $17.06 billion, a PE ratio of 45.32, a P/E/G ratio of 2.21 and a beta of 1.75. The company has a 50-day moving average price of $39.63 and a two-hundred day moving average price of $36.58. Chewy has a twelve month low of $19.75 and a twelve month high of $48.62.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the business earned $0.31 earnings per share. Chewy’s revenue was up 6.3% compared to the same quarter last year. Analysts anticipate that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Activity at Chewy

In other news, CEO Sumit Singh sold 8,552 shares of Chewy stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total transaction of $285,209.20. Following the transaction, the chief executive officer now owns 62,096 shares in the company, valued at $2,070,901.60. This trade represents a 12.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David Reeder sold 7,863 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $36.50, for a total value of $286,999.50. Following the completion of the sale, the chief financial officer now owns 11,582 shares of the company’s stock, valued at $422,743. This trade represents a 40.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 236,046 shares of company stock worth $9,387,635. 0.43% of the stock is owned by company insiders.

Institutional Trading of Chewy

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC grew its stake in shares of Chewy by 150.2% during the 1st quarter. Parallel Advisors LLC now owns 788 shares of the company’s stock valued at $26,000 after acquiring an additional 473 shares during the period. Banque Transatlantique SA purchased a new position in Chewy during the fourth quarter valued at approximately $30,000. Golden State Wealth Management LLC boosted its position in shares of Chewy by 104.6% in the first quarter. Golden State Wealth Management LLC now owns 941 shares of the company’s stock worth $31,000 after purchasing an additional 481 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of Chewy in the first quarter worth $44,000. Finally, North Star Investment Management Corp. raised its position in shares of Chewy by 26.6% during the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company’s stock valued at $55,000 after purchasing an additional 353 shares during the period. Hedge funds and other institutional investors 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.