Chewy’s (CHWY) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Chewy (NYSE:CHWY) in a research report report published on Thursday morning,Benzinga reports. Wedbush currently has a $45.00 price objective on the stock.

Other equities analysts also recently issued reports about the company. JMP Securities restated a “market outperform” rating and issued a $48.00 price target on shares of Chewy in a research note on Thursday. Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $44.00 to $50.00 in a research note on Monday. Cowen restated a “buy” rating on shares of Chewy in a research note on Friday, June 6th. Deutsche Bank Aktiengesellschaft upgraded Chewy from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Thursday. Finally, Guggenheim restated a “buy” rating and issued a $45.00 price target (up from $42.00) on shares of Chewy in a research note on Thursday, June 12th. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.72.

Chewy Trading Up 2.6%

Shares of CHWY opened at $36.03 on Thursday. The business’s fifty day simple moving average is $38.60 and its two-hundred day simple moving average is $38.30. Chewy has a 12 month low of $26.28 and a 12 month high of $48.62. The company has a market cap of $14.96 billion, a price-to-earnings ratio of 102.94, a P/E/G ratio of 7.35 and a beta of 1.65.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, September 10th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.19). Chewy had a return on equity of 50.45% and a net margin of 1.22%.The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm posted $0.24 EPS. The company’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, research analysts forecast that Chewy will post 0.24 EPS for the current year.

Insider Buying and Selling

In related news, CTO Satish Mehta sold 8,727 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $35.82, for a total value of $312,601.14. Following the completion of the transaction, the chief technology officer owned 276,467 shares of the company’s stock, valued at approximately $9,903,047.94. This represents a 3.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sumit Singh sold 29,557 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $35.57, for a total transaction of $1,051,342.49. Following the completion of the transaction, the chief executive officer directly owned 540,406 shares of the company’s stock, valued at $19,222,241.42. This represents a 5.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,008,777 shares of company stock valued at $1,252,444,321 over the last three months. 0.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chewy

Several large investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust lifted its position in shares of Chewy by 34.5% in the second quarter. Parkside Financial Bank & Trust now owns 1,161 shares of the company’s stock valued at $49,000 after acquiring an additional 298 shares in the last quarter. Liberty One Investment Management LLC lifted its position in shares of Chewy by 4.7% in the first quarter. Liberty One Investment Management LLC now owns 7,051 shares of the company’s stock valued at $229,000 after acquiring an additional 314 shares in the last quarter. North Star Investment Management Corp. lifted its position in shares of Chewy by 26.6% in the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company’s stock valued at $55,000 after acquiring an additional 353 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Chewy by 2.3% in the first quarter. Federated Hermes Inc. now owns 15,685 shares of the company’s stock valued at $510,000 after acquiring an additional 354 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of Chewy by 5.3% in the first quarter. Park Avenue Securities LLC now owns 7,281 shares of the company’s stock valued at $237,000 after acquiring an additional 364 shares in the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

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.