Chewy (NYSE:CHWY) Price Target Cut to $48.00 by Analysts at Morgan Stanley

Chewy (NYSE:CHWY) had its price objective reduced by Morgan Stanley from $50.00 to $48.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also commented on CHWY. Citigroup reissued an “outperform” rating on shares of Chewy in a research note on Thursday, July 10th. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a report on Thursday. Barclays dropped their price objective on Chewy from $50.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday. Evercore ISI set a $52.00 price target on shares of Chewy and gave the stock an “outperform” rating in a research report on Thursday, June 12th. Finally, Citizens Jmp raised shares of Chewy to a “strong-buy” rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.72.

Chewy Stock Up 2.6%

NYSE CHWY opened at $36.03 on Thursday. Chewy has a 52-week low of $26.28 and a 52-week high of $48.62. The business’s 50-day moving average price is $38.60 and its 200 day moving average price is $38.30. The firm has a market cap of $14.96 billion, a P/E ratio of 102.94, a P/E/G ratio of 7.35 and a beta of 1.65.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, September 10th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.19). Chewy had a return on equity of 50.45% and a net margin of 1.22%.The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the business earned $0.24 EPS. The business’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. As a group, analysts anticipate that Chewy will post 0.24 earnings per share for the current year.

Insider Activity

In other news, CTO Satish Mehta sold 8,727 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $35.82, for a total value of $312,601.14. Following the completion of the transaction, the chief technology officer directly owned 276,467 shares in the company, valued at $9,903,047.94. This trade represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sumit Singh sold 4,264 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $35.57, for a total transaction of $151,670.48. Following the completion of the transaction, the chief executive officer owned 72,549 shares of the company’s stock, valued at $2,580,567.93. This trade represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,008,777 shares of company stock worth $1,252,444,321 over the last ninety days. 0.43% of the stock is owned by company insiders.

Institutional Trading of Chewy

Large investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust boosted its stake in Chewy by 34.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,161 shares of the company’s stock worth $49,000 after purchasing an additional 298 shares during the period. Liberty One Investment Management LLC raised its holdings in shares of Chewy by 4.7% during the 1st quarter. Liberty One Investment Management LLC now owns 7,051 shares of the company’s stock valued at $229,000 after purchasing an additional 314 shares in the last quarter. North Star Investment Management Corp. raised its holdings in shares of Chewy by 26.6% during the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company’s stock valued at $55,000 after purchasing an additional 353 shares in the last quarter. Federated Hermes Inc. grew its stake in Chewy by 2.3% in the 1st quarter. Federated Hermes Inc. now owns 15,685 shares of the company’s stock valued at $510,000 after buying an additional 354 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in Chewy by 5.3% in the 1st quarter. Park Avenue Securities LLC now owns 7,281 shares of the company’s stock valued at $237,000 after buying an additional 364 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors.

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.