Chewy (NYSE:CHWY) Raised to “Strong-Buy” at Seaport Res Ptn

Chewy (NYSE:CHWY) was upgraded by Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

CHWY has been the subject of several other reports. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research note on Thursday. JMP Securities restated a “market outperform” rating and set a $48.00 price objective on shares of Chewy in a research note on Thursday. Citigroup decreased their price objective on shares of Chewy from $49.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday. Morgan Stanley decreased their price objective on shares of Chewy from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Royal Bank Of Canada decreased their price objective on shares of Chewy from $44.00 to $43.00 and set an “outperform” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Chewy presently has an average rating of “Moderate Buy” and a consensus price target of $45.72.

Chewy Trading Up 2.6%

NYSE:CHWY opened at $36.03 on Wednesday. The company has a market cap of $14.96 billion, a PE ratio of 102.94, a P/E/G ratio of 7.35 and a beta of 1.65. Chewy has a twelve month low of $26.28 and a twelve month high of $48.62. The company’s 50 day moving average is $38.60 and its two-hundred day moving average is $38.30.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, September 10th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.19). The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Chewy had a return on equity of 50.45% and a net margin of 1.22%.The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 EPS. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. As a group, analysts expect that Chewy will post 0.24 EPS for the current fiscal year.

Insider Activity

In related news, CEO Sumit Singh sold 29,557 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $35.57, for a total value of $1,051,342.49. Following the completion of the transaction, the chief executive officer directly owned 540,406 shares in the company, valued at $19,222,241.42. The trade was a 5.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Satish Mehta sold 8,727 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $35.82, for a total transaction of $312,601.14. Following the completion of the transaction, the chief technology officer owned 276,467 shares of the company’s stock, valued at approximately $9,903,047.94. This represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,008,777 shares of company stock valued at $1,252,444,321. 0.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chewy

Large investors have recently added to or reduced their stakes in the stock. Aigen Investment Management LP acquired a new position in Chewy during the first quarter worth $791,000. Jefferies Financial Group Inc. acquired a new position in Chewy during the first quarter worth $3,251,000. D.A. Davidson & CO. raised its position in Chewy by 38.7% during the first quarter. D.A. Davidson & CO. now owns 43,725 shares of the company’s stock worth $1,422,000 after acquiring an additional 12,206 shares during the period. Polar Asset Management Partners Inc. raised its position in Chewy by 26.5% during the fourth 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 during the period. Finally, Victory Capital Management Inc. raised its position in Chewy by 74.5% during the first quarter. Victory Capital Management Inc. now owns 139,889 shares of the company’s stock worth $4,548,000 after acquiring an additional 59,711 shares during the period. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.