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

Needham & Company LLC reaffirmed their buy rating on shares of Chewy (NYSE:CHWY) in a report released on Friday, Benzinga reports. They currently have a $45.00 price objective on the stock.

CHWY has been the topic of several other reports. Barclays dropped their price target on shares of Chewy from $35.00 to $28.00 and set an equal weight rating on the stock in a research report on Wednesday, August 30th. UBS Group decreased their price objective on shares of Chewy from $26.00 to $25.00 and set a sell rating on the stock in a report on Thursday, August 31st. Royal Bank of Canada decreased their price objective on shares of Chewy from $56.00 to $44.00 and set an outperform rating on the stock in a report on Thursday, August 31st. Morgan Stanley decreased their price objective on shares of Chewy from $32.00 to $31.00 and set an equal weight rating on the stock in a report on Thursday, August 31st. Finally, Raymond James decreased their price objective on shares of Chewy from $36.00 to $33.00 and set an outperform rating on the stock in a report on Monday, August 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chewy has an average rating of Moderate Buy and a consensus target price of $38.05.

Chewy Trading Down 4.8 %

NYSE CHWY opened at $19.19 on Friday. The firm’s fifty day moving average price is $29.86 and its two-hundred day moving average price is $33.69. Chewy has a 1 year low of $19.18 and a 1 year high of $52.88. The firm has a market capitalization of $8.26 billion, a P/E ratio of 174.56 and a beta of 0.91.

Insider Transactions at Chewy

In related news, CAO Stacy Bowman sold 15,166 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $33.52, for a total value of $508,364.32. Following the sale, the chief accounting officer now directly owns 224,389 shares in the company, valued at approximately $7,521,519.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Chewy news, CFO Mario Jesus Marte sold 100,000 shares of Chewy stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $40.00, for a total transaction of $4,000,000.00. Following the completion of the transaction, the chief financial officer now owns 203,023 shares of the company’s stock, valued at approximately $8,120,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stacy Bowman sold 15,166 shares of Chewy stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $33.52, for a total value of $508,364.32. Following the transaction, the chief accounting officer now directly owns 224,389 shares of the company’s stock, valued at approximately $7,521,519.28. The disclosure for this sale can be found here. Insiders have sold 145,694 shares of company stock worth $5,687,746 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in shares of Chewy by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 146,374 shares of the company’s stock worth $5,969,000 after purchasing an additional 3,814 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Chewy by 40.0% during the first quarter. Panagora Asset Management Inc. now owns 24,000 shares of the company’s stock worth $979,000 after purchasing an additional 6,863 shares in the last quarter. BlackRock Inc. lifted its position in Chewy by 5.1% in the 1st quarter. BlackRock Inc. now owns 2,329,086 shares of the company’s stock worth $94,981,000 after buying an additional 112,753 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Chewy by 7.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 155,106 shares of the company’s stock worth $6,326,000 after buying an additional 11,146 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its position in Chewy by 10.7% in the 1st quarter. Vontobel Holding Ltd. now owns 38,171 shares of the company’s stock worth $1,633,000 after buying an additional 3,682 shares during the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

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 Website www.chewy.com, as well as mobile applications.