JPMorgan Chase & Co. Lowers Chewy (NYSE:CHWY) Price Target to $45.00

Key Points

• JPMorgan Chase & Co. has lowered its price target for Chewy (NYSE:CHWY) from $47.00 to $45.00, while maintaining an "overweight" rating that suggests a potential upside of 26.92% from the current price.
• Various analysts have updated their ratings on Chewy, with JMP Securities giving a price target of $48.00 and Jefferies Financial Group raising theirs to $43.00, signaling a generally positive outlook despite recent target reductions.
• Chewy's latest earnings report showed that it missed EPS estimates, reporting $0.14 as opposed to the expected $0.33, although revenue did exceed expectations at $3.10 billion.

Chewy (NYSE:CHWY - Get Free Report) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $47.00 to $45.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 26.92% from the company's current price.

A number of other analysts have also recently issued reports on CHWY. JMP Securities reiterated a "market outperform" rating and issued a $48.00 target price on shares of Chewy in a research note on Thursday. Morgan Stanley reduced their target price on shares of Chewy from $50.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday. Jefferies Financial Group reiterated a "hold" rating and issued a $43.00 target price (up from $41.00) on shares of Chewy in a research note on Thursday, June 5th. Citizens Jmp raised shares of Chewy to a "strong-buy" rating in a research report on Thursday, July 10th. Finally, Barclays dropped their price target on shares of Chewy from $50.00 to $47.00 and set an "overweight" rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.83.

Chewy Stock Performance

Shares of CHWY stock traded up $0.35 during trading on Thursday, hitting $35.46. 3,310,100 shares of the company were exchanged, compared to its average volume of 6,481,799. The firm has a market capitalization of $14.72 billion, a price-to-earnings ratio of 39.89, a P/E/G ratio of 8.81 and a beta of 1.65. The business's 50-day simple moving average is $38.71 and its 200 day simple moving average is $38.28. Chewy has a twelve month low of $26.28 and a twelve month high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings results on Wednesday, September 10th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.19). The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Chewy had a return on equity of 35.04% and a net margin of 3.21%.The business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 earnings per share. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. On average, equities analysts forecast that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of Chewy stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $41.75, for a total transaction of $1,250,000,010.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Satish Mehta sold 8,727 shares of Chewy stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $35.82, for a total transaction of $312,601.14. Following the sale, the chief technology officer owned 276,467 shares in the company, valued at $9,903,047.94. This represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,008,777 shares of company stock worth $1,252,444,321 over the last three months. 0.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chewy

A number of institutional investors have recently bought and sold shares of the business. BC Partners PE LP acquired a new stake in Chewy during the first quarter worth $7,142,402,000. Invesco Ltd. boosted its stake in shares of Chewy by 34.7% in the 2nd quarter. Invesco Ltd. now owns 7,187,518 shares of the company's stock valued at $306,332,000 after purchasing an additional 1,852,531 shares in the last quarter. State Street Corp boosted its stake in shares of Chewy by 75.5% in 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 in the last quarter. AQR Capital Management LLC boosted its stake in shares of Chewy by 231.1% in the 2nd quarter. AQR Capital Management LLC now owns 4,631,343 shares of the company's stock valued at $196,323,000 after purchasing an additional 3,232,763 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of Chewy by 8.2% in the 1st quarter. Voya Investment Management LLC now owns 4,146,973 shares of the company's stock valued at $134,818,000 after purchasing an additional 312,795 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company's stock.

Chewy Company Profile

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.