Morgan Stanley initiated coverage on shares of Chewy (NYSE:CHWY) in a report issued on Tuesday morning, Benzinga reports. The brokerage issued an equal weight rating and a $33.00 price objective on the stock.

A number of other research firms also recently weighed in on CHWY. Royal Bank of Canada reissued a sector perform rating and set a GBX 485 ($6.34) price target on shares of in a research report on Tuesday. JPMorgan Chase & Co. initiated coverage on shares of Pinduoduo in a research report on Tuesday. They set an underweight rating and a $20.48 price target for the company. Bank of America reissued a buy rating and set a $43.00 price target (up previously from $36.00) on shares of The Medicines in a research report on Tuesday. UBS Group initiated coverage on shares of Chewy in a research report on Tuesday. They set a buy rating and a $42.00 price target for the company. Finally, Wedbush initiated coverage on shares of Chewy in a research report on Thursday, June 20th. They set a neutral rating for the company. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Chewy has an average rating of Hold and an average price target of $37.44.

CHWY stock opened at $33.38 on Tuesday. Chewy has a twelve month low of $30.78 and a twelve month high of $41.34.

In other Chewy news, General Counsel Susan Helfrick acquired 90,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was purchased at an average price of $22.00 per share, with a total value of $1,980,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 47,875,000 shares of Chewy stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $20.90, for a total transaction of $1,000,587,500.00. The disclosure for this sale can be found here. Insiders have bought 152,500 shares of company stock valued at $3,355,000 in the last three months.

About Chewy

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company provides pet food, pet products, pet medications, and other pet health products for dogs, cats, fish, birds, small pets, horses, and reptiles through its chewy.com retail Website, as well as its mobile applications.

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Analyst Recommendations for Chewy (NYSE:CHWY)

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