Chewy (NYSE:CHWY) Price Target Cut to $45.00 by Analysts at JPMorgan Chase & Co.

Chewy (NYSE:CHWY) had its price objective trimmed by JPMorgan Chase & Co. from $47.00 to $45.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently weighed in on the company. Jefferies Financial Group restated a “hold” rating and issued a $43.00 price objective (up from $41.00) on shares of Chewy in a report on Thursday, June 5th. Cowen reissued a “buy” rating on shares of Chewy in a research note on Friday, June 6th. Robert W. Baird lowered 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. Citigroup reiterated an “outperform” rating on shares of Chewy in a report on Thursday, July 10th. Finally, Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $44.00 to $50.00 in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.72.

Chewy Trading Up 2.6%

NYSE:CHWY opened at $36.03 on Thursday. The stock has a market cap of $14.96 billion, a P/E ratio of 102.94, a price-to-earnings-growth ratio of 7.35 and a beta of 1.65. The stock’s 50-day moving average is $38.60 and its 200-day moving average is $38.30. Chewy has a 1-year low of $26.28 and a 1-year high of $48.62.

Chewy (NYSE:CHWY) last posted its 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). Chewy had a return on equity of 50.45% and a net margin of 1.22%.The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. As a group, equities analysts forecast that Chewy will post 0.24 EPS for the current year.

Insider Activity at Chewy

In other Chewy news, CAO William G. Billings sold 20,142 shares of Chewy stock in a transaction on Monday, August 4th. The shares were sold at an average price of $35.57, for a total value of $716,450.94. Following the completion of the sale, the chief accounting officer directly owned 29,464 shares of the company’s stock, valued at approximately $1,048,034.48. The trade was a 40.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 4,264 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $35.57, for a total transaction of $151,670.48. Following the transaction, the chief executive officer directly owned 72,549 shares in the company, valued at $2,580,567.93. This trade represents a 5.55% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,008,777 shares of company stock worth $1,252,444,321. 0.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BC Partners PE LP bought a new position in Chewy in the first quarter worth approximately $7,142,402,000. Invesco Ltd. raised its position in shares of Chewy by 34.7% during the second quarter. Invesco Ltd. now owns 7,187,518 shares of the company’s stock worth $306,332,000 after purchasing an additional 1,852,531 shares during the period. State Street Corp lifted its holdings 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 worth $262,974,000 after purchasing an additional 2,654,496 shares in the last quarter. AQR Capital Management LLC lifted its holdings 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 worth $196,323,000 after purchasing an additional 3,232,763 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in 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 during the period. 93.09% of the stock is owned by institutional investors and hedge funds.

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.