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

Needham & Company LLC reaffirmed their hold rating on shares of Chewy (NYSE:CHWY - Free Report) in a research report released on Thursday,Benzinga reports.

Several other equities analysts also recently weighed in on the stock. Seaport Res Ptn upgraded shares of Chewy to a "hold" rating in a research note on Monday, March 24th. Morgan Stanley reduced their target price on Chewy from $40.00 to $39.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. lowered their price target on shares of Chewy from $40.00 to $36.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Jefferies Financial Group restated a "hold" rating and issued a $43.00 price objective (up from $41.00) on shares of Chewy in a research report on Thursday, June 5th. Finally, The Goldman Sachs Group boosted their price objective on shares of Chewy from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chewy presently has an average rating of "Moderate Buy" and an average target price of $43.72.

Chewy Price Performance

Shares of Chewy stock traded up $0.48 during trading hours on Thursday, hitting $41.24. 9,387,254 shares of the company's stock traded hands, compared to its average volume of 6,949,193. The stock has a market capitalization of $17.06 billion, a price-to-earnings ratio of 45.32, a PEG ratio of 2.21 and a beta of 1.75. Chewy has a 12-month low of $19.75 and a 12-month high of $48.62. The company has a fifty day simple moving average of $39.44 and a 200-day simple moving average of $36.53.

Chewy (NYSE:CHWY - Get Free Report) last released its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.08 billion. During the same period in the previous year, the company earned $0.31 earnings per share. The company's quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts forecast that Chewy will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling at Chewy

In related news, CEO Sumit Singh sold 8,552 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total transaction of $285,209.20. Following the completion of the sale, the chief executive officer now directly owns 62,096 shares in the company, valued at $2,070,901.60. This represents a 12.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO David Reeder sold 7,863 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $36.50, for a total transaction of $286,999.50. Following the completion of the transaction, the chief financial officer now owns 11,582 shares in the company, valued at $422,743. The trade was a 40.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 236,046 shares of company stock worth $9,387,635 over the last three months. Company insiders own 0.43% of the company's stock.

Institutional Trading of Chewy

Institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC increased its holdings in shares of Chewy by 150.2% in the 1st quarter. Parallel Advisors LLC now owns 788 shares of the company's stock worth $26,000 after purchasing an additional 473 shares in the last quarter. Banque Transatlantique SA purchased a new stake in shares of Chewy during the fourth quarter valued at $30,000. Golden State Wealth Management LLC increased its holdings in Chewy by 104.6% in the 1st quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock worth $31,000 after buying an additional 481 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in Chewy in the 1st quarter worth about $44,000. Finally, North Star Investment Management Corp. lifted its stake in Chewy by 26.6% during the 1st 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 during the period. 93.09% of the stock is currently owned by 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.