Chewy Set to Join S&P MidCap 400

Rhea-AI Summary

Chewy (NYSE: CHWY) will be added to the S&P MidCap 400 prior to trading on November 6, 2024, replacing Stericycle (SRCL), which is being removed ahead of its expected acquisition by Waste Management (WM).

The change is part of a routine index reconstitution by S&P Dow Jones Indices and becomes effective at the market open on the stated date.

Positive

• Index inclusion in S&P MidCap 400 effective November 6, 2024
• Replaces Stericycle (SRCL) due to pending acquisition by Waste Management (WM)

Negative

• None.

Key Figures

Index effective date: November 6, 2024

1 metrics

Index effective date November 6, 2024 Chewy addition to S&P MidCap 400

Market Reality Check

Price: $27.52 Vol: Volume 6,197,924 is about...

normal vol

$27.52 Last Close

Volume Volume 6,197,924 is about in line with recent activity at 0.7x the 20-day average 8,903,619 ahead of the index change. normal

Technical Shares at $25.36 are trading below the 200-day moving average of $33.64 and 47.84% under the 52-week high $48.62, while sitting 11.52% above the 52-week low $22.74.

Peers on Argus

Sector peers showed mixed, stock-specific action. Only JD appeared in momentum s...

1 Up

Sector peers showed mixed, stock-specific action. Only JD appeared in momentum scans, up about 5.6%, and sector momentum was not flagged as a coordinated move, suggesting Chewy’s index inclusion was more company-specific than part of a broad Internet Retail rotation.

Historical Context

5 past events · Latest: Apr 08 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 08	Strategic acquisition	Positive	+0.9%	Deal to acquire Modern Animal, expanding clinics and recurring healthcare revenue.
Mar 25	Earnings results	Positive	+13.3%	Fiscal 2025 results showing higher net sales, EBITDA, and strong free cash flow.
Mar 02	Earnings call setup	Neutral	-1.3%	Announcement of timing and access details for upcoming earnings call and webcast.
Feb 24	Executive appointment	Positive	+3.1%	Appointment of new CFO and reaffirmation of guidance and long-term margin target.
Feb 17	Conference participation	Neutral	-1.8%	CEO participation in a major conference and reiteration of business scope and scale.

Pattern Detected

Recent news with clearly positive fundamentals or strategic moves has generally seen Chewy trade higher over the following session, while routine announcements have produced modest, mixed reactions.

Recent Company History

Over the last several months, Chewy’s key updates have centered on growth and capital allocation. An acquisition agreement to buy Modern Animal on Apr 8 2026 added 29 clinics and an expected $125 million in annualized revenue, with a modest 0.92% gain. Fiscal 2025 earnings on Mar 25 2026 highlighted $12.60B in net sales and a strong 13.3% price reaction. Management changes, such as appointing a new CFO on Feb 24 2026, and conference participation and call announcements had smaller, mixed impacts. Against this backdrop, the S&P MidCap 400 inclusion reflects index-level recognition rather than an operational shift.

Market Pulse Summary

This announcement centers on Chewy joining the S&P MidCap 400 effective November 6, 2024, reflecting...

Analysis

This announcement centers on Chewy joining the S&P MidCap 400 effective November 6, 2024, reflecting index-level recognition rather than a change in operations. Before the change, shares traded at $25.36, well below the 200-day moving average of $33.64 and 47.84% under the 52-week high. Recent history shows stronger price responses to earnings and strategic acquisitions than to routine news. Investors watching this development typically monitor trading volumes around the effective date and any subsequent fundamental updates.

Key Terms

s&p midcap 400, s&p 500, gics sector, dow jones industrial average

4 terms

s&p midcap 400 financial

"Chewy Inc. (NYSE: CHWY) will replace Stericycle Inc. (NASD: SRCL) in the S&P MidCap 400 effective prior..."

The S&P MidCap 400 is a group of 400 companies that are smaller than the big, well-known corporations but larger than tiny startups. It helps investors see how medium-sized companies are performing in the stock market, acting like a barometer for this middle-sized group of businesses.

s&p 500 financial

"S&P 500 constituent Waste Management Inc. (NYSE: WM) is acquiring Stericycle..."

The S&P 500 is a broad stock market index that tracks the performance of 500 large U.S. companies, weighted so bigger firms have a larger impact. Investors use it like a thermometer or benchmark to judge how the overall U.S. stock market or a portfolio is doing; movements in the index influence investor sentiment, fund performance, and many passive investment products that aim to match its returns.

gics sector financial

"Effective Date | Index Name | Action | Company Name | Ticker | GICS Sector"

GICS sector is one of the major industry groupings from the Global Industry Classification Standard, a system that sorts companies into consistent categories (like Technology or Health Care) based on the primary business they do. Investors use these sectors like folders in a filing cabinet to compare companies, build diversified portfolios, and track how whole parts of the market are performing rather than focusing on single stocks.

dow jones industrial average financial

"such as the S&P 500® and the Dow Jones Industrial Average®."

A stock market index that tracks the share prices of a small group of large, well-known companies to give a quick snapshot of how the broader market is doing. Think of it like a thermometer for the stock market: it uses a handful of heavyweight firms as representative samples to show whether investor sentiment is rising or falling, which helps investors gauge market trends and compare performance over time.

AI-generated analysis. Not financial advice.

NEW YORK, Nov. 1, 2024 /PRNewswire/ -- Chewy Inc. (NYSE: CHWY) will replace Stericycle Inc. (NASD: SRCL) in the S&P MidCap 400 effective prior to the opening of trading on Wednesday, November 6. S&P 500 constituent Waste Management Inc. (NYSE: WM) is acquiring Stericycle in a deal expected to be completed soon, pending final closing conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date	Index Name	Action		Company Name	Ticker	GICS Sector
November 6, 2024	S&P MidCap 400		Addition	Chewy	CHWY	Consumer Discretionary
November 6, 2024	S&P MidCap 400		Deletion	Stericycle	SRCL	Industrial

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View original content:https://www.prnewswire.com/news-releases/chewy-set-to-join-sp-midcap-400-302294567.html

SOURCE S&P Dow Jones Indices

FAQ

When will Chewy (CHWY) join the S&P MidCap 400?

Chewy will join the S&P MidCap 400 prior to the opening of trading on November 6, 2024. According to S&P Dow Jones Indices, the addition replaces Stericycle and becomes effective at the market open on that date.

Why is Stericycle (SRCL) being removed from the S&P MidCap 400 ahead of November 6, 2024?

Stericycle is being removed because Waste Management is acquiring Stericycle, with the transaction expected to close soon. According to S&P Dow Jones Indices, the pending acquisition prompts Stericycle's deletion from the index.

How will Chewy's (CHWY) addition to the S&P MidCap 400 be implemented on November 6, 2024?

The change will be implemented prior to the market open on November 6, 2024, as a direct substitution. According to S&P Dow Jones Indices, Chewy will be added and Stericycle will be deleted at the effective time.

Does the November 6, 2024 S&P MidCap 400 change affect Waste Management (WM)?

The announcement notes Waste Management is acquiring Stericycle, which triggers Stericycle's removal from the index. According to S&P Dow Jones Indices, the acquisition by Waste Management is the reason for the index deletion.

Where can investors find official details about Chewy's (CHWY) S&P MidCap 400 inclusion?

Official details are published by S&P Dow Jones Indices and available on their website. According to S&P Dow Jones Indices, the effective date, action, and affected tickers are provided in the index change notice.