Chewy (NYSE:CHWY) Earns Neutral Rating from Analysts at Rosenblatt Securities

Rosenblatt Securities began coverage on shares of Chewy (NYSE:CHWY) in a report published on Thursday, Marketbeat reports. The brokerage issued a neutral rating and a $25.00 price objective on the stock.

CHWY has been the topic of a number of other research reports. Jefferies Financial Group restated a “hold” rating and issued a $23.00 price target on shares of Chewy in a research report on Thursday, June 11th. UBS Group cut their price objective on shares of Chewy from $32.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. Morgan Stanley reduced their price objective on shares of Chewy from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, June 11th. Weiss Ratings downgraded shares of Chewy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 31st. Finally, Citigroup reissued a “market outperform” rating on shares of Chewy in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Chewy presently has an average rating of “Moderate Buy” and a consensus target price of $31.73.

Chewy Price Performance

Shares of NYSE CHWY opened at $23.96 on Thursday. The stock has a market capitalization of $9.81 billion, a PE ratio of 39.93, a P/E/G ratio of 1.21 and a beta of 1.42. The business has a fifty day moving average price of $21.21 and a two-hundred day moving average price of $23.39. Chewy has a fifty-two week low of $17.40 and a fifty-two week high of $43.50.

Insider Buying and Selling at Chewy

In other news, General Counsel Da-Wai Hu sold 4,203 shares of Chewy stock in a transaction on Monday, June 29th. The stock was sold at an average price of $19.49, for a total value of $81,916.47. Following the transaction, the general counsel owned 4,103 shares in the company, valued at approximately $79,967.47. This trade represents a 50.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Chewy

Large investors have recently bought and sold shares of the business. Wellington Management Group LLP raised its stake in Chewy by 295.9% during the third quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock worth $712,841,000 after acquiring an additional 13,171,325 shares in the last quarter. Viking Global Investors LP lifted its holdings in shares of Chewy by 146.9% in the fourth quarter. Viking Global Investors LP now owns 13,536,645 shares of the company’s stock worth $447,386,000 after acquiring an additional 8,052,955 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Chewy by 120.2% in the 3rd quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock valued at $407,948,000 after purchasing an additional 5,564,803 shares in the last quarter. Norges Bank acquired a new stake in shares of Chewy in the 4th quarter valued at approximately $154,647,000. Finally, State Street Corp grew its holdings in shares of Chewy by 75.5% during the 2nd quarter. State Street Corp now owns 6,170,197 shares of the company’s stock valued at $262,974,000 after purchasing an additional 2,654,496 shares during the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

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.