HighTower Advisors LLC Sells 58,943 Shares of Chewy $CHWY

HighTower Advisors LLC decreased its stake in Chewy (NYSE:CHWY) by 59.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,923 shares of the company’s stock after selling 58,943 shares during the period. HighTower Advisors LLC’s holdings in Chewy were worth $1,330,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Aigen Investment Management LP bought a new position in shares of Chewy in the 1st quarter worth $791,000. Jefferies Financial Group Inc. bought a new position in shares of Chewy in the 1st quarter worth $3,251,000. D.A. Davidson & CO. increased its holdings in shares of Chewy by 38.7% in the 1st quarter. D.A. Davidson & CO. now owns 43,725 shares of the company’s stock worth $1,422,000 after buying an additional 12,206 shares during the last quarter. Polar Asset Management Partners Inc. increased its holdings in shares of Chewy by 26.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company’s stock worth $9,670,000 after buying an additional 60,533 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Chewy by 74.5% during the 1st quarter. Victory Capital Management Inc. now owns 139,889 shares of the company’s stock valued at $4,548,000 after purchasing an additional 59,711 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays increased their target price on shares of Chewy from $44.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, May 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a report on Thursday, June 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $44.00 target price (up previously from $42.00) on shares of Chewy in a report on Thursday, June 12th. UBS Group reaffirmed a “neutral” rating and set a $44.00 target price on shares of Chewy in a report on Tuesday, August 5th. Finally, JMP Securities increased their target price on shares of Chewy from $39.00 to $48.00 and gave the company a “market outperform” rating in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.78.

Chewy Stock Up 0.5%

Shares of CHWY opened at $39.75 on Tuesday. The stock has a market capitalization of $16.50 billion, a P/E ratio of 44.66, a PEG ratio of 8.26 and a beta of 1.67. The firm has a fifty day simple moving average of $39.11 and a two-hundred day simple moving average of $38.02. Chewy has a twelve month low of $25.19 and a twelve month high of $48.62.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Chewy has set its FY 2025 guidance at EPS. Sell-side analysts expect that Chewy will post 0.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Satish Mehta sold 8,727 shares of Chewy stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $35.82, for a total value of $312,601.14. Following the sale, the chief technology officer directly owned 276,467 shares in the company, valued at approximately $9,903,047.94. This trade represents a 3.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of Chewy stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $41.75, for a total value of $1,250,000,010.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,008,777 shares of company stock valued at $1,252,444,321 in the last 90 days. 0.43% of the stock is owned by corporate insiders.

About Chewy

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