Chewy (NYSE:CHWY) Now Covered by Rosenblatt Securities

Analysts at Rosenblatt Securities assumed coverage on shares of Chewy (NYSE:CHWY) in a report issued on Thursday. The firm set a “neutral” rating and a $25.00 price target on the stock. Rosenblatt Securities’ price objective points to a potential upside of 4.05% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Bank of America dropped their target price on shares of Chewy from $33.00 to $31.00 in a research report on Thursday, June 11th. Raymond James Financial restated a “buy” rating on shares of Chewy in a research report on Wednesday, June 10th. Robert W. Baird decreased their price objective on shares of Chewy from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, June 11th. Wall Street Zen cut shares of Chewy from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of Chewy from $35.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.73.

Chewy Trading Up 4.3%

NYSE CHWY opened at $24.03 on Thursday. The stock’s 50-day moving average price is $21.02 and its two-hundred day moving average price is $23.42. The company has a market cap of $9.84 billion, a PE ratio of 40.05, a PEG ratio of 1.16 and a beta of 1.42. Chewy has a 1 year low of $17.40 and a 1 year high of $43.50.

Insider Buying and Selling at Chewy

In other news, General Counsel Da-Wai Hu sold 4,203 shares of Chewy stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $19.49, for a total transaction of $81,916.47. Following the completion of the sale, the general counsel directly owned 4,103 shares in the company, valued at $79,967.47. The trade was a 50.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chewy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in shares of Chewy by 295.9% during the 3rd quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock worth $712,841,000 after purchasing an additional 13,171,325 shares during the last quarter. Viking Global Investors LP lifted its stake in shares of Chewy by 146.9% in the 4th quarter. Viking Global Investors LP now owns 13,536,645 shares of the company’s stock valued at $447,386,000 after purchasing an additional 8,052,955 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Chewy by 120.2% in the third quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock worth $407,948,000 after purchasing an additional 5,564,803 shares in the last quarter. Norges Bank bought a new stake in Chewy in the fourth quarter worth $154,647,000. Finally, State Street Corp increased its position in Chewy by 75.5% during the second quarter. State Street Corp now owns 6,170,197 shares of the company’s stock worth $262,974,000 after buying an additional 2,654,496 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.

Chewy Company Profile

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.