Russell Investments Group Ltd. Trims Stake in Chewy $CHWY

Russell Investments Group Ltd. lowered its stake in shares of Chewy (NYSE:CHWY) by 92.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,916 shares of the company’s stock after selling 309,842 shares during the quarter. Russell Investments Group Ltd.’s holdings in Chewy were worth $778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Motley Fool Asset Management LLC increased its position in shares of Chewy by 13.1% during the first quarter. Motley Fool Asset Management LLC now owns 6,798 shares of the company’s stock valued at $221,000 after buying an additional 785 shares during the period. Burkehill Global Management LP purchased a new position in shares of Chewy during the first quarter valued at about $8,128,000. Aigen Investment Management LP purchased a new position in shares of Chewy during the first quarter valued at about $791,000. Townsquare Capital LLC increased its position in shares of Chewy by 48.8% during the first quarter. Townsquare Capital LLC now owns 14,061 shares of the company’s stock valued at $457,000 after buying an additional 4,610 shares during the period. Finally, Swiss National Bank increased its position in shares of Chewy by 2.4% during the first quarter. Swiss National Bank now owns 363,300 shares of the company’s stock valued at $11,811,000 after buying an additional 8,400 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

CHWY has been the topic of several research analyst reports. Barclays boosted their price target on shares of Chewy from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, May 28th. Royal Bank Of Canada restated an “outperform” rating and issued a $44.00 price objective (up previously from $42.00) on shares of Chewy in a report on Thursday, June 12th. Citizens Jmp upgraded shares of Chewy to a “strong-buy” rating in a report on Thursday, July 10th. Jefferies Financial Group restated a “hold” rating and issued a $43.00 price objective (up previously from $41.00) on shares of Chewy in a report on Thursday, June 5th. Finally, UBS Group restated a “neutral” rating and issued a $44.00 price objective on shares of Chewy in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.78.

Insider Activity

In other news, CAO William G. Billings sold 20,142 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $35.57, for a total value of $716,450.94. Following the transaction, the chief accounting officer owned 29,464 shares in the company, valued at approximately $1,048,034.48. This represents a 40.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the company’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $41.75, for a total transaction of $1,250,000,010.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,008,777 shares of company stock worth $1,252,444,321. Corporate insiders own 0.43% of the company’s stock.

Chewy Stock Performance

Shares of NYSE CHWY opened at $40.99 on Friday. The firm’s 50 day moving average price is $39.06 and its 200-day moving average price is $38.11. The company has a market cap of $17.02 billion, a PE ratio of 46.06, a P/E/G ratio of 8.65 and a beta of 1.67. Chewy has a 52-week low of $25.19 and a 52-week high of $48.62.

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

Chewy Company Profile

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.