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

Effective date: November 6, 2024 Index size label: 400

2 metrics

Effective date November 6, 2024 Date Chewy replaces Stericycle in S&P MidCap 400

Index size label 400 Constituent count referenced in S&P MidCap 400 name

Market Reality Check

Price: $227.09 Vol: Volume 2,261,770 vs 20-da...

normal vol

$227.09 Last Close

Volume Volume 2,261,770 vs 20-day average 1,762,154 (relative volume 1.28) ahead of the Chewy/Stericycle index change notice. normal

Technical Price $231.00 is trading above the 200-day MA of $223.07, indicating an established uptrend before this announcement.

Peers on Argus

WM was up 0.68% while key peers were mixed: RSG -0.83%, WCN -0.04%, GFL -5.44%, ...

WM was up 0.68% while key peers were mixed: RSG -0.83%, WCN -0.04%, GFL -5.44%, CLH +0.45%, CWST -1.86%. This points to stock-specific factors rather than a unified sector move as the Chewy/Stericycle index reshuffle was announced.

Common Catalyst One peer, CWST, had conference-related headlines, suggesting investor events rather than broad refuse-sector catalysts.

Historical Context

5 past events · Latest: Mar 26 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 26	Earnings call schedule	Neutral	+0.1%	Set date and time for Q1 2026 earnings release and call.
Mar 02	Dividend declaration	Positive	+0.1%	Announced quarterly cash dividend of $0.945 per share for March 2026.
Jan 28	Earnings results	Positive	-3.7%	Reported strong 2025 EBITDA and cash-flow growth with 2026 guidance outlook.
Dec 18	Earnings call schedule	Neutral	-0.9%	Announced timing for Q4 and full-year 2025 earnings release and webcast.
Dec 15	Capital returns plan	Positive	+0.3%	Outlined 2026 dividend increase and new $3B buyback authorization with FCF targets.

Pattern Detected

Recent WM news has mostly seen price moves align with the tone of announcements, with one notable divergence on strong 2025 earnings.

Recent Company History

Over the last several months, WM’s newsflow has centered on earnings delivery and shareholder returns. A Dec 15, 2025 release outlined a 14.5% planned dividend increase, a new $3.0 billion buyback authorization, and high cash return targets for 2026. The Jan 28, 2026 earnings report highlighted double‑digit EBITDA and cash‑flow growth but coincided with a -3.66% move. More routine items, like dividend declarations and earnings call scheduling, have produced minimal price impact, framing today’s index-related update in a context of generally stable reactions.

Regulatory & Risk Context

Active S-3 Shelf

Shelf Active

Active S-3 Shelf Registration 2025-07-31

WM has an effective S-3ASR shelf registration filed on 2025-07-31, expiring 2028-07-31, with 0 recorded usage events in the provided data. No specific dollar capacity or takedowns are disclosed here.

Market Pulse Summary

This announcement highlights index changes tied to WM’s pending acquisition of Stericycle, with Chew...

Analysis

This announcement highlights index changes tied to WM’s pending acquisition of Stericycle, with Chewy joining the S&P MidCap 400 as Stericycle exits. For WM, it reinforces the ongoing healthcare-related expansion rather than altering its own S&P 500 status. Recent history shows modest price responses to routine updates and more pronounced moves around major earnings and capital return news. Investors may track closing of the Stericycle deal and subsequent financial updates to assess integration progress.

Key Terms

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

4 terms

s&p midcap 400 financial

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

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.

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.

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.

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

For more information about S&P Dow Jones Indices, please visit www.spdji.com

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.

FOR MORE INFORMATION:

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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.