Chewy (NYSE:CHWY) Now Covered by Analysts at Rosenblatt Securities

Rosenblatt Securities initiated coverage on shares of Chewy (NYSE:CHWY) in a research report issued to clients and investors on Thursday. The brokerage set a “neutral” rating and a $25.00 price target on the stock. Rosenblatt Securities’ target price suggests a potential upside of 4.05% from the company’s current price.

A number of other research analysts have also issued reports on CHWY. TD Cowen reissued a “buy” rating on shares of Chewy in a research note on Tuesday, June 23rd. Weiss Ratings lowered shares of Chewy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 31st. Piper Sandler set a $30.00 price target on Chewy in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on Chewy from $45.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, June 11th. Finally, Barclays decreased their price objective on Chewy from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $31.73.

Chewy Stock Performance

Chewy stock opened at $24.03 on Thursday. The company has a 50-day simple moving average of $21.02 and a 200-day simple moving average of $23.42. The firm has a market capitalization of $9.84 billion, a P/E ratio of 40.05, a P/E/G ratio of 1.16 and a beta of 1.42. Chewy has a one year low of $17.40 and a one year high of $43.50.

Insider Buying and Selling

In other Chewy news, General Counsel Da-Wai Hu sold 4,203 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $19.49, for a total value of $81,916.47. Following the sale, the general counsel directly owned 4,103 shares in the company, valued at approximately $79,967.47. The trade was a 50.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Chewy

Several hedge funds have recently made changes to their positions in the business. Harbour Investments Inc. lifted its stake in Chewy by 81.4% during the fourth quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock valued at $30,000 after purchasing an additional 407 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in Chewy in the second quarter worth approximately $30,000. Los Angeles Capital Management LLC bought a new position in shares of Chewy in the fourth quarter valued at $31,000. Modus Advisors LLC bought a new position in shares of Chewy in the fourth quarter valued at $34,000. Finally, Montag A & Associates Inc. lifted its position in shares of Chewy by 58.8% during the 4th quarter. Montag A & Associates Inc. now owns 1,270 shares of the company’s stock valued at $42,000 after acquiring an additional 470 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

About Chewy

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.