Needham & Company LLC restated their hold rating on shares of Chewy (NYSE:CHWY - Free Report) in a research note published on Thursday,Benzinga reports.
Several other research firms also recently weighed in on CHWY. Mizuho raised shares of Chewy from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $24.00 to $42.00 in a research note on Monday, January 6th. Piper Sandler boosted their target price on Chewy from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, December 2nd. Seaport Res Ptn upgraded Chewy to a "hold" rating in a research report on Monday, March 24th. Morgan Stanley boosted their price objective on Chewy from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Finally, Evercore ISI upgraded Chewy from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $34.00 to $47.00 in a report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $38.68.
Check Out Our Latest Stock Report on Chewy
Chewy Stock Performance
Shares of CHWY stock traded up $0.19 on Thursday, reaching $32.36. 1,755,381 shares of the company were exchanged, compared to its average volume of 7,536,297. Chewy has a 1 year low of $14.69 and a 1 year high of $40.09. The business has a 50-day moving average price of $35.90 and a 200 day moving average price of $33.23. The company has a market cap of $13.18 billion, a price-to-earnings ratio of 35.38, a P/E/G ratio of 2.21 and a beta of 1.23.
Chewy (NYSE:CHWY - Get Free Report) last announced 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. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business had revenue of $3.25 billion during the quarter, compared to analysts' expectations of $3.20 billion. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The business's revenue was up 15.0% compared to the same quarter last year. As a group, equities analysts anticipate that Chewy will post 0.24 earnings per share for the current year.
Insiders Place Their Bets
In other Chewy news, CTO Satish Mehta sold 71,365 shares of the stock in a transaction dated 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 sale, the chief technology officer now owns 262,853 shares of the company's stock, valued at $9,357,566.80. This trade represents a 21.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $35.77, for a total value of $250,390,000.00. The disclosure for this sale can be found here. Insiders have sold 8,083,269 shares of company stock worth $290,611,129 over the last three months. Company insiders own 2.10% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in shares of Chewy by 16.5% in the 4th quarter. California State Teachers Retirement System now owns 155,785 shares of the company's stock valued at $5,217,000 after purchasing an additional 22,033 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in Chewy in the fourth quarter valued at $154,000. Integrated Advisors Network LLC purchased a new stake in Chewy during the 4th quarter worth about $235,000. Polar Asset Management Partners Inc. boosted its position in shares of Chewy by 26.5% during the 4th quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company's stock worth $9,670,000 after acquiring an additional 60,533 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of Chewy in the 4th quarter valued at about $318,000. Hedge funds and other institutional investors own 93.09% of the company's stock.
About Chewy
(
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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.
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