Chewy (NYSE:CHWY) Rating Reiterated by Needham & Company LLC

Chewy (NYSE:CHWY)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a note issued to investors on Wednesday, MarketBeat reports.

A number of other equities research analysts also recently commented on the stock. Raymond James downgraded shares of Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Citigroup raised their price target on Chewy from $16.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. upped their price objective on Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Robert W. Baird increased their price objective on Chewy from $26.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley boosted their target price on Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chewy has a consensus rating of “Moderate Buy” and an average price target of $29.55.

Chewy Stock Down 1.4 %

NYSE:CHWY opened at $27.08 on Wednesday. Chewy has a 52 week low of $14.69 and a 52 week high of $39.10. The company has a fifty day simple moving average of $28.68 and a two-hundred day simple moving average of $23.86. The company has a market cap of $11.78 billion, a price-to-earnings ratio of 150.42, a price-to-earnings-growth ratio of 3.04 and a beta of 1.05.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. On average, analysts expect that Chewy will post 0.32 EPS for the current year.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $29.40, for a total value of $789,999,991.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Chewy news, CEO Sumit Singh sold 14,338 shares of Chewy stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the sale, the chief executive officer now owns 1,398,271 shares of the company’s stock, valued at approximately $31,097,547.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total value of $789,999,991.20. The disclosure for this sale can be found here. Insiders sold a total of 28,138,627 shares of company stock valued at $827,147,620 in the last ninety days. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Institutional investors have recently made changes to their positions in the stock. EntryPoint Capital LLC grew its position in Chewy by 18.0% during the first quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock worth $65,000 after buying an additional 619 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in shares of Chewy by 3.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock worth $451,000 after acquiring an additional 870 shares during the period. Blue Trust Inc. increased its stake in Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after purchasing an additional 905 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Chewy by 10.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock worth $308,000 after purchasing an additional 1,029 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in Chewy during the second quarter worth $33,000. 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.