Chewy (NYSE:CHWY) Upgraded by Barclays to "Strong-Buy" Rating

Chewy (NYSE:CHWY - Get Free Report) was upgraded by investment analysts at Barclays to a "strong-buy" rating in a research report issued on Thursday,Zacks.com reports.

Several other research firms have also recently weighed in on CHWY. JPMorgan Chase & Co. cut their price objective on shares of Chewy from $35.00 to $29.00 and set an "overweight" rating for the company in a research report on Thursday. 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. BNP Paribas Exane reaffirmed a "neutral" rating and set a $28.00 price objective (down from $38.00) on shares of Chewy in a research report on Thursday, March 26th. Zacks Research cut shares of Chewy from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Finally, Morgan Stanley cut their price objective on shares of Chewy from $43.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $32.05.

Chewy Stock Performance

Shares of Chewy stock opened at $19.30 on Thursday. The firm has a 50-day moving average of $23.48 and a 200-day moving average of $27.46. The stock has a market cap of $8.04 billion, a PE ratio of 32.16, a PEG ratio of 0.87 and a beta of 1.44. Chewy has a 52-week low of $18.22 and a 52-week high of $43.84.

Chewy (NYSE:CHWY - Get Free Report) last announced its earnings results on Wednesday, June 10th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.19. Chewy had a net margin of 1.99% and a return on equity of 60.02%. The company had revenue of $3.36 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter in the previous year, the business posted $0.35 earnings per share. Chewy's quarterly revenue was up 9.7% on a year-over-year basis. Chewy has set its Q2 2026 guidance at 0.360-0.360 EPS. Equities research analysts predict that Chewy will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sumit Singh sold 83,306 shares of the firm's 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 completion of the transaction, the chief executive officer owned 874,061 shares in the company, valued at $22,375,961.60. This trade represents a 8.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 the firm's 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. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 95,675 shares of company stock valued at $2,459,955. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chewy

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

Chewy News Roundup

Here are the key news stories impacting Chewy this week:

• Positive Sentiment: Chewy’s Autoship subscription program continued to grow faster than overall sales in Q1, supporting recurring revenue, customer retention, and visibility into future cash flow. Chewy's Autoship Business Continues to Drive Recurring Revenue Growth
• Positive Sentiment: Several analysts still see upside despite trimming price targets, and Citi reiterated a Buy rating while saying valuation has compressed enough to leave room for recovery. Chewy: Buy Rating Reiterated as Analyst Cuts Price Target to $31 but Sees Significant Upside from Compressed Valuation
• Positive Sentiment: Chewy’s Q1 results showed revenue growth and margin expansion, and management kept profitability guidance intact even as it lowered the sales outlook. Chewy Q1 Earnings Meet Estimates, Sales Beat on Autoship Strength

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.

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