Fintel reports that on August 31, 2023, Evercore ISI Group downgraded their outlook for Chewy Inc – (NYSE:CHWY) from Outperform to In-Line.

Analyst Price Forecast Suggests 61.74% Upside

As of August 31, 2023, the average one-year price target for Chewy Inc – is 44.20. The forecasts range from a low of 26.26 to a high of $71.14. The average price target represents an increase of 61.74% from its latest reported closing price of 27.33.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Chewy Inc – is 11,376MM, an increase of 5.31%. The projected annual non-GAAP EPS is 0.10.

What is the Fund Sentiment?

There are 609 funds or institutions reporting positions in Chewy Inc -. This is a decrease of 24 owner(s) or 3.79% in the last quarter. Average portfolio weight of all funds dedicated to CHWY is 0.35%, a decrease of 6.69%. Total shares owned by institutions increased in the last three months by 1.25% to 447,026K shares. The put/call ratio of CHWY is 0.83, indicating a bullish outlook.

What are Other Shareholders Doing?

BC Partners Advisors holds 311,852K shares representing 72.96% ownership of the company. No change in the last quarter.

Baillie Gifford holds 16,071K shares representing 3.76% ownership of the company. In it’s prior filing, the firm reported owning 16,529K shares, representing a decrease of 2.85%. The firm increased its portfolio allocation in CHWY by 159.18% over the last quarter.

Brown Advisory holds 6,524K shares representing 1.53% ownership of the company. In it’s prior filing, the firm reported owning 6,712K shares, representing a decrease of 2.88%. The firm increased its portfolio allocation in CHWY by 97.45% over the last quarter.

Wellington Management Group Llp holds 6,124K shares representing 1.43% ownership of the company. In it’s prior filing, the firm reported owning 5,536K shares, representing an increase of 9.61%. The firm increased its portfolio allocation in CHWY by 11.47% over the last quarter.

Voya Investment Management holds 5,121K shares representing 1.20% ownership of the company.

Chewy Background Information
(This description is provided by the company.)

Chewy’s mission is to be the most trusted and convenient online destination for pet parents (and partners) everywhere. The Company believes to be the preeminent online source for pet products, supplies and prescriptions as a result of its broad selection of high-quality products, which its offers at competitive prices and deliver with an exceptional level of care and a personal touch. The Company continually develops innovative ways for its customers to engage with them, and partner with approximately 2,500 of the best and most trusted brands in the pet industry, to bring a high-bar, customer-centric experience to its customers.

This article originally appeared on Fintel

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