Robert W. Baird Lowers Chewy (NYSE:CHWY) Price Target to $30.00

Chewy (NYSE:CHWY) had its target price dropped by research analysts at Robert W. Baird from $40.00 to $30.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 49.76% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 price target on shares of Chewy in a research note on Thursday. Wall Street Zen downgraded shares of Chewy from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Wedbush reduced their price target on shares of Chewy from $42.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday, March 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Chewy in a research note on Thursday, June 4th. Finally, Mizuho cut their target price on shares of Chewy from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.91.

Chewy Price Performance

CHWY stock opened at $20.03 on Thursday. The company has a market capitalization of $8.35 billion, a PE ratio of 38.52, a P/E/G ratio of 0.91 and a beta of 1.44. Chewy has a 12 month low of $19.08 and a 12 month high of $43.84. The firm’s 50-day moving average is $23.80 and its 200 day moving average is $27.62.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, June 10th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.24 by $0.19. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.35 billion. Chewy had a net margin of 1.77% and a return on equity of 53.48%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 EPS. Chewy has set its Q2 2026 guidance at 0.360-0.360 EPS. Sell-side analysts forecast that Chewy will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sumit Singh sold 83,306 shares of Chewy stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $25.60, for a total value of $2,132,633.60. Following the transaction, the chief executive officer owned 874,061 shares of the company’s stock, valued at $22,375,961.60. The trade was a 8.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Da-Wai Hu sold 8,149 shares of Chewy stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $26.91, for a total transaction of $219,289.59. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 95,675 shares of company stock worth $2,459,955. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

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

Key Stories Impacting Chewy

Here are the key news stories impacting Chewy this week:

• Positive Sentiment: Chewy posted Q1 net sales of $3.36 billion, up 7.7% year over year, and adjusted EPS of $0.43, topping estimates and reinforcing that the core business is still growing. Chewy Announces First Quarter 2026 Financial Results
• Positive Sentiment: Profitability improved, with gross margin rising to 30.1% and management signaling continued discipline on margins and free cash flow, which supports the long-term investment case. Chewy Inc (CHWY) Q1 2026 Earnings Call Highlights
• Positive Sentiment: Several analysts stayed bullish after the report, saying the results were better than feared and pointing to margin discipline and longer-term growth drivers such as veterinary services, clinics, health offerings, and AI initiatives. Chewy Maintains Buy Rating as Stronger‑Than‑Feared Results and Prudent Guidance Underscore Earnings Confidence
• Neutral Sentiment: Chewy is still expanding into higher-margin adjacent businesses, but those initiatives are early and not yet enough to offset near-term concerns about consumer pressure. CHWY Q1 Earnings Call Flags Softer Consumer Spending
• Negative Sentiment: Management trimmed full-year sales guidance, citing softer pet-related spending and a more cautious U.S. consumer, which is weighing on sentiment despite the earnings beat. Chewy Cuts FY Outlook Despite Higher Sales, Profit
• Negative Sentiment: The lowered revenue outlook and mixed analyst reaction suggest investors are worried growth may slow from here, especially after the stock’s sharp run-up in expectations ahead of earnings. Analyst Maintains Hold on Chewy Amid Macro Headwinds, Strategic Concerns, and Vet Services Expansion Upside

Chewy Company Profile

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.