Weekly Investment Analysts’ Ratings Updates for Chewy (CHWY)

A number of firms have modified their ratings and price targets on shares of Chewy (NYSE: CHWY) recently:

• 3/22/2024 – Chewy had its price target lowered by analysts at Royal Bank of Canada from $35.00 to $22.00. They now have an “outperform” rating on the stock.
• 3/21/2024 – Chewy had its price target lowered by analysts at Bank of America Co. from $17.00 to $16.50. They now have an “underperform” rating on the stock.
• 3/21/2024 – Chewy had its price target lowered by analysts at JPMorgan Chase & Co. from $25.00 to $22.00. They now have an “overweight” rating on the stock.
• 3/21/2024 – Chewy had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $25.00 price target on the stock.
• 3/21/2024 – Chewy had its price target lowered by analysts at Piper Sandler from $21.00 to $19.00. They now have a “neutral” rating on the stock.
• 3/21/2024 – Chewy had its price target lowered by analysts at Jefferies Financial Group Inc. from $27.00 to $25.00. They now have a “buy” rating on the stock.
• 3/21/2024 – Chewy had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $36.00 to $32.00. They now have a “buy” rating on the stock.
• 3/21/2024 – Chewy had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $25.00 price target on the stock.
• 3/19/2024 – Chewy is now covered by analysts at Mizuho. They set a “neutral” rating and a $18.00 price target on the stock.
• 3/15/2024 – Chewy had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $28.00 price target on the stock.

Chewy Stock Performance

Shares of NYSE:CHWY traded up $0.65 during mid-day trading on Thursday, hitting $16.42. The stock had a trading volume of 8,672,926 shares, compared to its average volume of 8,976,193. The company has a market cap of $7.14 billion, a PE ratio of 205.28, a P/E/G ratio of 8.20 and a beta of 0.90. Chewy, Inc. has a 12-month low of $15.08 and a 12-month high of $40.78. The company’s 50 day moving average is $17.11 and its 200-day moving average is $18.81.

Insider Transactions at Chewy

In other news, CEO Sumit Singh sold 192,642 shares of Chewy stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $17.70, for a total transaction of $3,409,763.40. Following the completion of the sale, the chief executive officer now directly owns 1,307,025 shares in the company, valued at approximately $23,134,342.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Chewy news, major shareholder Argos Holdings Gp Llc sold 12,325,000 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $20.29, for a total value of $250,074,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sumit Singh sold 192,642 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $3,409,763.40. Following the sale, the chief executive officer now owns 1,307,025 shares of the company’s stock, valued at approximately $23,134,342.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,560,416 shares of company stock valued at $254,241,215. 2.10% of the stock is owned by insiders.

Institutional Trading of Chewy

Hedge funds have recently added to or reduced their stakes in the business. UniSuper Management Pty Ltd bought a new stake in shares of Chewy in the second quarter valued at about $28,000. Quarry LP lifted its stake in shares of Chewy by 120.2% in the first quarter. Quarry LP now owns 874 shares of the company’s stock valued at $33,000 after buying an additional 477 shares during the period. Headinvest LLC bought a new stake in shares of Chewy in the third quarter valued at about $39,000. Quest Partners LLC bought a new position in Chewy during the fourth quarter worth about $65,000. Finally, Signaturefd LLC lifted its stake in Chewy by 37.8% during the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after purchasing an additional 922 shares during the period. Institutional investors own 93.09% of the company’s stock.

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.