TD Cowen Lowers Chewy (NYSE:CHWY) Price Target to $48.00

Key Points

• TD Cowen has reduced Chewy's target price from $50.00 to $48.00, although they maintain a "buy" rating, indicating a potential upside of 33.90% from the current price.
• Analysts from other firms, including Morgan Stanley and Robert W. Baird, have also set their price targets for Chewy at $48.00, reflecting a consensus rating of "Moderate Buy" with an average target of $45.94.
• Chewy's last earnings report showed a missed EPS estimate of $0.14, with revenue increasing 8.6% year-over-year, but still falling short of analyst expectations.

Chewy (NYSE:CHWY - Get Free Report) had its target price reduced by research analysts at TD Cowen from $50.00 to $48.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's price objective suggests a potential upside of 33.90% from the company's current price.

CHWY has been the topic of several other reports. Morgan Stanley cut their price objective on shares of Chewy from $50.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday. Robert W. Baird reduced their price objective on Chewy from $52.00 to $48.00 and set an "outperform" rating for the company in a research report on Thursday. JMP Securities reiterated a "market outperform" rating and set a $48.00 price objective on shares of Chewy in a research report on Thursday. Cowen reiterated a "buy" rating on shares of Chewy in a research report on Friday, June 6th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $43.00 price objective (up from $41.00) on shares of Chewy in a research report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Chewy has a consensus rating of "Moderate Buy" and an average price target of $45.94.

Chewy Stock Up 2.1%

Shares of NYSE CHWY opened at $35.85 on Thursday. The stock's 50 day moving average price is $38.71 and its two-hundred day moving average price is $38.28. Chewy has a 52-week low of $26.28 and a 52-week high of $48.62. The stock has a market capitalization of $14.88 billion, a P/E ratio of 40.69, a PEG ratio of 8.81 and a beta of 1.65.

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

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the company's 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO William G. Billings sold 20,142 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $35.57, for a total transaction of $716,450.94. Following the completion of the sale, the chief accounting officer directly owned 29,464 shares in the company, valued at $1,048,034.48. This trade represents a 40.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,008,777 shares of company stock valued at $1,252,444,321 in the last 90 days. 0.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chewy

Several hedge funds have recently added to or reduced their stakes in CHWY. Centaurus Financial Inc. acquired a new position in Chewy in the second quarter valued at about $120,000. Orion Porfolio Solutions LLC grew its holdings in Chewy by 19.2% during the second quarter. Orion Porfolio Solutions LLC now owns 53,175 shares of the company's stock worth $2,266,000 after buying an additional 8,562 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Chewy by 4.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 114,234 shares of the company's stock valued at $4,868,000 after acquiring an additional 4,876 shares during the period. State of Wyoming boosted its holdings in Chewy by 20.5% in the 2nd quarter. State of Wyoming now owns 11,972 shares of the company's stock worth $510,000 after buying an additional 2,038 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in Chewy by 21.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 7,202 shares of the company's stock worth $307,000 after purchasing an additional 1,289 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company's stock.

About Chewy

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.

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