Chewy (NYSE:CHWY) Price Target Cut to $50.00 by Analysts at Morgan Stanley

Chewy (NYSE:CHWY) had its target price reduced by Morgan Stanley from $51.00 to $50.00 in a research note published on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

CHWY has been the topic of a number of other reports. UBS Group set a $51.00 price objective on shares of Chewy in a research note on Tuesday, January 13th. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research report on Thursday, December 11th. Raymond James Financial raised Chewy from a “market perform” rating to an “outperform” rating and set a $28.00 price target on the stock in a research note on Thursday, February 19th. Wall Street Zen upgraded Chewy from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chewy in a research note on Wednesday, January 21st. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and a consensus price target of $45.55.

Chewy Trading Down 2.2%

Chewy stock opened at $25.58 on Tuesday. The company has a market cap of $10.62 billion, a PE ratio of 53.30, a PEG ratio of 1.76 and a beta of 1.60. Chewy has a 1 year low of $23.06 and a 1 year high of $48.62. The company’s 50-day moving average is $28.94 and its two-hundred day moving average is $33.53.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, December 10th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Chewy had a net margin of 1.64% and a return on equity of 56.78%. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the company earned $0.20 EPS. Chewy’s revenue was up 8.1% on a year-over-year basis. Research analysts forecast that Chewy will post 0.24 EPS for the current year.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 13,013 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $28.99, for a total value of $377,246.87. Following the completion of the sale, the chief technology officer owned 273,835 shares of the company’s stock, valued at approximately $7,938,476.65. This represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Chewy

Several institutional investors and hedge funds have recently made changes to their positions in CHWY. Winslow Asset Management Inc. bought a new stake in shares of Chewy in the third quarter worth about $6,171,000. Nordea Investment Management AB bought a new position in shares of Chewy during the 3rd quarter valued at about $6,967,000. Federated Hermes Inc. grew its position in shares of Chewy by 2,715.2% in the 3rd quarter. Federated Hermes Inc. now owns 664,079 shares of the company’s stock valued at $26,862,000 after purchasing an additional 640,490 shares during the period. CWM LLC grew its position in shares of Chewy by 8,785.0% in the 3rd quarter. CWM LLC now owns 284,499 shares of the company’s stock valued at $11,508,000 after purchasing an additional 281,297 shares during the period. Finally, Intech Investment Management LLC increased its stake in Chewy by 218.6% during the 3rd quarter. Intech Investment Management LLC now owns 173,300 shares of the company’s stock worth $7,010,000 after purchasing an additional 118,903 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Trending Headlines about Chewy

Here are the key news stories impacting Chewy this week:

• Positive Sentiment: Analysts kept bullish ratings despite cuts — Morgan Stanley trimmed its price target only slightly (from $51 to $50) and maintained an Overweight rating, signaling continued confidence in Chewy’s long-term growth potential. Benzinga: Morgan Stanley PT Cut
• Positive Sentiment: TD Cowen reiterated a Buy rating and cited sustained market-share gains and autoship strength as key drivers, which supports upside even after they lowered their target to $39. TipRanks: TD Cowen Notes
• Positive Sentiment: Seeking Alpha published a bullish view framing Chewy as a defensive, recurring-revenue play in an uncertain economy — a narrative that can attract investor interest during volatility. Seeking Alpha: Defensive Staple
• Neutral Sentiment: TD Cowen’s target cut from $48 to $39 is material (reduces implied upside), but the firm retained a Buy — this is mixed news that both limits upside expectations and shows continued confidence. StreetInsider: TD Cowen PT Lowered
• Neutral Sentiment: Comparative coverage (CMRC vs CHWY) discusses relative valuation and may drive some rotation/interest but is not a direct catalyst for Chewy itself. Yahoo: CMRC vs CHWY
• Negative Sentiment: Market headlines highlighted that Chewy underperformed the broader market today, which can trigger momentum selling and stop-losses; this was reported across outlets summarizing the intraday drop. Yahoo: CHWY Falls More Steeply

About Chewy

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.