Bank of America’s 5 Stock Picks for 2023

3. Chewy, Inc. (NYSE:CHWY)

Year to Date Share Price Growth as of February 8, 2023: 29.24%

Number of Hedge Fund Holders In Q3 2022: 25

Chewy, Inc. (NYSE:CHWY) is an online retailer headquartered in Dania Beach, Florida. The firm has thousands of products in its portfolio and it focuses its attention on primarily supplying pet products.

Wedbush increased Chewy, Inc. (NYSE:CHWY)’s share price target to $55 from $35 in January 2023 as it outlined that the pet sector should prove to be more resilient than some others this year. By the end of 2022’s September quarter, 25 of the 920 hedge funds part of Insider Monkey’s research owned a stake in Chewy, Inc. (NYSE:CHWY).

Paul Marshall and Ian Wace’s Marshall Wace LLP is Chewy, Inc. (NYSE:CHWY)’s largest hedge fund investor in our database. It owns 1.8 million shares that are worth $1.8 million.

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