Chewy (NYSE:CHWY) Receives Hold Rating from Needham & Company LLC

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

A number of other research analysts also recently commented on the stock. Citizens Jmp raised shares of Chewy to a “strong-buy” rating in a report on Thursday, July 10th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $43.00 price target (up previously from $41.00) on shares of Chewy in a report on Thursday, June 5th. JPMorgan Chase & Co. increased their price target on shares of Chewy from $36.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, June 12th. Wall Street Zen downgraded shares of Chewy from a “buy” rating to a “hold” rating in a report on Saturday, June 14th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $44.00 price target (up previously from $42.00) on shares of Chewy in a report on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.72.

Chewy Stock Up 2.6%

CHWY opened at $36.03 on Thursday. The firm has a 50-day simple moving average of $38.60 and a two-hundred day simple moving average of $38.30. Chewy has a 52 week low of $26.28 and a 52 week high of $48.62. The company has a market capitalization of $14.96 billion, a PE ratio of 102.94, a price-to-earnings-growth ratio of 7.35 and a beta of 1.65.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, September 10th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.19). Chewy had a net margin of 1.22% and a return on equity of 50.45%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. As a group, sell-side analysts expect that Chewy will post 0.24 earnings per share for the current year.

Insider Activity

In related news, CTO Satish Mehta sold 8,727 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $35.82, for a total value of $312,601.14. Following the sale, the chief technology officer directly owned 276,467 shares of the company’s stock, valued at $9,903,047.94. This represents a 3.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO William G. Billings sold 20,142 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $35.57, for a total transaction of $716,450.94. Following the completion of the sale, the chief accounting officer directly owned 29,464 shares in the company, valued at $1,048,034.48. This trade represents a 40.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,008,777 shares of company stock valued at $1,252,444,321. Company insiders own 0.43% of the company’s stock.

Institutional Trading of Chewy

Institutional investors and hedge funds have recently modified their holdings of the stock. BC Partners PE LP purchased a new stake in shares of Chewy in the first quarter valued at approximately $7,142,402,000. Invesco Ltd. boosted its holdings in shares of Chewy by 34.7% in the second quarter. Invesco Ltd. now owns 7,187,518 shares of the company’s stock valued at $306,332,000 after purchasing an additional 1,852,531 shares during the period. State Street Corp boosted its holdings in shares of Chewy by 75.5% in the second quarter. State Street Corp now owns 6,170,197 shares of the company’s stock valued at $262,974,000 after purchasing an additional 2,654,496 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Chewy by 231.1% in the second quarter. AQR Capital Management LLC now owns 4,631,343 shares of the company’s stock valued at $196,323,000 after purchasing an additional 3,232,763 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in shares of Chewy by 8.2% in the first quarter. Voya Investment Management LLC now owns 4,146,973 shares of the company’s stock valued at $134,818,000 after purchasing an additional 312,795 shares during the period. Institutional investors own 93.09% of the company’s stock.

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.