Chewy (CHWY)

• Market cap: $14.7B
• 1 day: 0.45%
• 5 days: 0.81%
• 1 month: 7.42%
• 3 months: 26.68%
• 6 months: 34.38%
• Year to date: 6.41%
• 1 year: 92.01%
• 5 years: 15.77%
• 10 years: 3.00%
• Sector: Consumer Discretionary
• Industry: Catalog & Mail-Order Houses

About: Chewy is the largest e-commerce petcare retailer in the US, generating $11.2 billion in 2023 sales across pet food, treats, hard goods, and pharmacy categories. The firm was founded in 2011, acquired by PetSmart in 2017, and tapped public markets as a stand-alone company in 2019 after spending a couple of years developing under the aegis of the pet superstore chain. The firm generates sales from pet food, treats, over-the-counter medications, medical prescription fulfillment, and hard goods, like crates, leashes, and bowls.

Employees: 18,100

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

35% more first-time investments, than exits

New positions opened: 84 | Existing positions closed: 62

33% more funds holding in top 10

Funds holding in top 10: 3 [Q2] → 4 (+1) [Q3]

5% more funds holding

Funds holding: 373 [Q2] → 390 (+17) [Q3]

2% more capital invested

Capital invested by funds: $10.8B [Q2] → $11.1B (+$233M) [Q3]

9% less call options, than puts

Call options by funds: $398M | Put options by funds: $436M

6.75% less ownership

Funds ownership: 290.51% [Q2] → 283.76% (-6.75%) [Q3]

13% less repeat investments, than reductions

Existing positions increased: 112 | Existing positions reduced: 128

Research analyst outlook

13 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $28 22% downside
• Avg. target: $40 10% upside
• High target: $47 30% upside

13 analyst ratings

• positive: 12 92%
• neutral: 1 8%
• negative: 0 0%

Morgan Stanley Lauren Schenk 90% 1-year accuracy 19 / 21 met price target	11% upside $40	Overweight Maintained	13 Jan 2025
Evercore ISI Group Mark Mahaney 74% 1-year accuracy 32 / 43 met price target	30% upside $47	Outperform Upgraded	13 Jan 2025
Mizuho David Bellinger 36% 1-year accuracy 12 / 33 met price target	17% upside $42	Outperform Upgraded	6 Jan 2025
JMP Securities Nicholas Jones 67% 1-year accuracy 53 / 79 met price target	3% upside $37	Market Outperform Reiterated	16 Dec 2024
JP Morgan Doug Anmuth 84% 1-year accuracy 36 / 43 met price target	5% upside $38	Overweight Maintained	5 Dec 2024