Chewy (NYSE:CHWY) Upgraded by Rosenblatt Securities to "Hold" Rating

Key Points

• Rosenblatt Securities upgraded Chewy to a “Hold” rating, while other analysts recently lowered price targets and maintained ratings ranging from “Neutral” to “Overweight.”
• Chewy has a consensus rating of “Moderate Buy” and an average price target of $31.73, compared with shares opening at $23.79.
• Institutional investors own 93.09% of Chewy’s stock, with Vanguard, Wellington Management, Viking Global Investors, AQR Capital Management and Morgan Stanley among firms that recently increased their stakes.

Chewy (NYSE:CHWY - Get Free Report) was upgraded by Rosenblatt Securities to a "hold" rating in a research report issued on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Mizuho reduced their target price on Chewy from $50.00 to $40.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 3rd. Wall Street Zen lowered Chewy from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. UBS Group cut their price target on shares of Chewy from $32.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, June 11th. Needham & Company LLC reissued a "hold" rating on shares of Chewy in a research report on Thursday, June 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Chewy from $35.00 to $29.00 and set an "overweight" rating for the company in a report on Thursday, June 11th. One 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 issued a Sell rating to the company. According to MarketBeat.com, Chewy presently has an average rating of "Moderate Buy" and a consensus price target of $31.73.

Chewy Price Performance

Shares of NYSE:CHWY opened at $23.79 on Wednesday. The stock's 50-day moving average is $21.12 and its 200 day moving average is $23.38. The company has a market cap of $9.74 billion, a PE ratio of 39.65, a P/E/G ratio of 1.21 and a beta of 1.42. Chewy has a 1 year low of $17.40 and a 1 year high of $43.50.

Insider Activity

In other news, General Counsel Da-Wai Hu sold 4,203 shares of Chewy stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $19.49, for a total value of $81,916.47. Following the completion of the sale, the general counsel directly owned 4,103 shares in the company, valued at $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 SEC, which is available through this link. 0.34% of the stock is currently owned by insiders.

Institutional Trading of Chewy

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Chewy by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 19,920,347 shares of the company's stock valued at $658,367,000 after buying an additional 1,017,214 shares during the last quarter. Wellington Management Group LLP grew 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 valued at $712,841,000 after acquiring an additional 13,171,325 shares in the last quarter. Viking Global Investors LP increased its holdings in Chewy by 146.9% in the 4th quarter. Viking Global Investors LP now owns 13,536,645 shares of the company's stock valued at $447,386,000 after acquiring an additional 8,052,955 shares during the last quarter. AQR Capital Management LLC increased its holdings in Chewy by 10.0% in the 4th quarter. AQR Capital Management LLC now owns 11,218,840 shares of the company's stock valued at $370,558,000 after acquiring an additional 1,022,694 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Chewy by 33.8% in the 4th quarter. Morgan Stanley now owns 7,660,258 shares of the company's stock worth $253,172,000 after purchasing an additional 1,937,014 shares in the last quarter. Institutional investors own 93.09% of the company's stock.

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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