The Panthers waived Stewart on Saturday, David Newton of ESPN.com reports.
Stewart was a steady performer at Michigan State, catching at least 48 passes in each of his final three seasons with the Spartans, but he never truly broke out. The Panthers were his second team of the offseason -- Green Bay was his first -- and he may land on the team's practice squad.
The Panthers signed Stewart to a contract Wednesday, Myles Simmons of the team's official site reports.
Stewart was let go by the Packers in mid-August after signing with the team as an undrafted free agent out of Michigan State. In his career with the Spartans, the 24-year-old racked up 150 receptions for 1,640 yards with seven touchdowns. He'll look to earn a depth or a practice squad roster spot for the 2020 season.
The Packers waived Stewart on Saturday.
Stewart signed with the Packers after going undrafted in April, but the 24-year-old wide receiver didn't stick around in training camp long. The Michigan State product had a decent final collegiate season with 49 receptions for 697 yards and four touchdowns, yet he'll likely need to contribute on special teams to make an active roster this fall.