Recent Investment Analysts’ Ratings Updates for Chewy (CHWY)

by · The Markets Daily

Several brokerages have updated their recommendations and price targets on shares of Chewy (NYSE: CHWY) in the last few weeks:

  • 11/25/2024 – Chewy had its price target raised by analysts at Morgan Stanley from $33.00 to $36.00. They now have an “overweight” rating on the stock.
  • 11/25/2024 – Chewy had its price target raised by analysts at Robert W. Baird from $35.00 to $40.00. They now have an “outperform” rating on the stock.
  • 11/22/2024 – Chewy had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $24.00 to $28.00. They now have a “hold” rating on the stock.
  • 11/20/2024 – Chewy was upgraded by analysts at Bank of America Co. from an “underperform” rating to a “buy” rating. They now have a $40.00 price target on the stock, up previously from $24.00.
  • 11/18/2024 – Chewy had its price target raised by analysts at Barclays PLC from $34.00 to $40.00. They now have an “overweight” rating on the stock.
  • 11/8/2024 – Chewy was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating. They now have a $40.00 price target on the stock, up previously from $28.00.
  • 10/23/2024 – Chewy had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
  • 10/9/2024 – Chewy is now covered by analysts at TD Cowen. They set a “buy” rating and a $38.00 price target on the stock.

Chewy Price Performance

CHWY stock traded down $0.47 on Wednesday, hitting $33.58. 1,538,803 shares of the company were exchanged, compared to its average volume of 8,632,913. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10. The business’s fifty day moving average is $29.99 and its two-hundred day moving average is $26.39. The stock has a market capitalization of $14.04 billion, a price-to-earnings ratio of 40.95, a price-to-earnings-growth ratio of 3.34 and a beta of 1.06.

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

Insider Activity at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BC Partners Advisors L.P. bought a new stake in shares of Chewy during the 2nd quarter valued at about $7,517,800,000. Vanguard Group Inc. grew its position in Chewy by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 10,480,230 shares of the company’s stock worth $166,740,000 after purchasing an additional 875,532 shares during the last quarter. FMR LLC grew its position in Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after purchasing an additional 2,497,689 shares during the last quarter. Bank of New York Mellon Corp grew its position in Chewy by 7.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,553,104 shares of the company’s stock worth $96,787,000 after purchasing an additional 258,502 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after purchasing an additional 2,636,526 shares during the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

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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