Needham & Company LLC Reaffirms “Hold” Rating for Chewy (NYSE:CHWY)

Chewy (NYSE:CHWY)‘s stock had its “hold” rating reissued by Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports.

Other research analysts have also recently issued research reports about the stock. UBS Group lifted their price objective on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group lifted their target price on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $37.00 price target on shares of Chewy in a research report on Monday, December 16th. BNP Paribas downgraded Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $39.00 target price on shares of Chewy in a report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.68.

Chewy Stock Down 1.5 %

Shares of Chewy stock opened at $32.20 on Thursday. The business’s fifty day simple moving average is $35.90 and its 200-day simple moving average is $33.17. The firm has a market cap of $13.11 billion, a PE ratio of 35.39, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. Chewy has a 52 week low of $14.69 and a 52 week high of $40.09.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.25. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. Chewy’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. As a group, equities analysts expect that Chewy will post 0.24 earnings per share for the current year.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of Chewy stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.77, for a total transaction of $250,390,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the transaction, the chief technology officer now owns 262,853 shares in the company, valued at $9,357,566.80. The trade was a 21.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,083,269 shares of company stock valued at $290,611,129. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Several large investors have recently made changes to their positions in CHWY. Mutual of America Capital Management LLC purchased a new position in shares of Chewy during the 4th quarter valued at $2,915,000. Centiva Capital LP purchased a new position in Chewy during the third quarter worth about $2,949,000. Raymond James Financial Inc. purchased a new stake in Chewy in the fourth quarter valued at approximately $69,789,000. Geode Capital Management LLC raised its position in shares of Chewy by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after buying an additional 119,633 shares in the last quarter. Finally, Birch Hill Investment Advisors LLC bought a new stake in Chewy during the fourth quarter worth about $1,174,000. 93.09% of the stock is 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.