Chewy (NYSE:CHWY) Rating Increased to Buy at Moffett Nathanson

Moffett Nathanson upgraded shares of Chewy (NYSE:CHWY) from a neutral rating to a buy rating in a report released on Thursday morning, MarketBeat Ratings reports. They currently have $48.00 price objective on the stock.

Several other analysts also recently issued reports on CHWY. Deutsche Bank Aktiengesellschaft upgraded Chewy from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Thursday, September 11th. Cowen restated a “buy” rating on shares of Chewy in a report on Friday, June 6th. Citigroup decreased their price target on shares of Chewy from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Guggenheim reissued a “buy” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Chewy in a research report on Thursday, June 12th. Finally, Citizens Jmp upgraded shares of Chewy to a “strong-buy” rating in a research report on Thursday, July 10th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and a consensus target price of $45.84.

Chewy Trading Up 1.4%

Shares of CHWY opened at $37.92 on Thursday. The stock has a market cap of $15.73 billion, a P/E ratio of 108.33, a PEG ratio of 9.29 and a beta of 1.65. The company has a 50-day moving average of $38.33 and a two-hundred day moving average of $38.47. Chewy has a 12-month low of $26.28 and a 12-month high of $48.62.

Chewy (NYSE:CHWY) last released its quarterly earnings results 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 business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. As a group, analysts forecast that Chewy will post 0.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 sale, the chief executive officer directly owned 540,406 shares in the company, valued at $19,222,241.42. This represents a 5.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO William G. Billings sold 20,142 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $35.57, for a total value of $716,450.94. Following the completion of the transaction, 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. Insiders have sold a total of 68,657 shares of company stock valued at $2,444,311 over the last quarter. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Chewy

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHWY. Parkside Financial Bank & Trust lifted its stake in shares of Chewy by 34.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,161 shares of the company’s stock valued at $49,000 after purchasing an additional 298 shares in the last quarter. Liberty One Investment Management LLC raised its holdings in 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 buying an additional 314 shares during the period. North Star Investment Management Corp. lifted its position in Chewy by 26.6% during the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company’s stock valued at $55,000 after buying an additional 353 shares in the last quarter. Federated Hermes Inc. grew its stake in Chewy by 2.3% during the first quarter. Federated Hermes Inc. now owns 15,685 shares of the company’s stock worth $510,000 after buying an additional 354 shares during the period. Finally, Park Avenue Securities LLC increased 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 worth $237,000 after acquiring an additional 364 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.