Hsbc Holdings PLC Buys New Stake in Chewy $CHWY

Hsbc Holdings PLC bought a new stake in Chewy (NYSE:CHWY) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,248 shares of the company’s stock, valued at approximately $298,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Durable Capital Partners LP purchased a new position in Chewy during the fourth quarter worth $79,050,000. Neuberger Berman Group LLC boosted its stake in Chewy by 35.7% during the first quarter. Neuberger Berman Group LLC now owns 2,304,006 shares of the company’s stock worth $74,903,000 after buying an additional 606,526 shares during the period. Assenagon Asset Management S.A. purchased a new position in Chewy during the first quarter worth $61,390,000. Northern Trust Corp boosted its stake in Chewy by 151.7% during the fourth quarter. Northern Trust Corp now owns 921,580 shares of the company’s stock worth $30,864,000 after buying an additional 555,372 shares during the period. Finally, Blair William & Co. IL boosted its stake in Chewy by 6.5% during the first quarter. Blair William & Co. IL now owns 849,834 shares of the company’s stock worth $27,628,000 after buying an additional 52,141 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CHWY has been the subject of several recent analyst reports. JMP Securities lifted their price objective on shares of Chewy from $39.00 to $48.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 price objective (up from $39.00) on shares of Chewy in a research note on Thursday, June 12th. Wall Street Zen lowered shares of Chewy from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $44.00 price objective (up from $42.00) on shares of Chewy in a research note on Thursday, June 12th. Finally, Cowen reiterated a “buy” rating on shares of Chewy in a research report on Friday, June 6th. One research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.78.

Chewy Price Performance

CHWY stock opened at $40.70 on Thursday. The business has a 50-day moving average price of $38.89 and a 200 day moving average price of $38.17. The company has a market capitalization of $16.90 billion, a P/E ratio of 45.73, a PEG ratio of 8.55 and a beta of 1.65. Chewy has a 1-year low of $25.19 and a 1-year high of $48.62.

Chewy (NYSE:CHWY) last released its quarterly earnings data 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. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.08 billion. Chewy had a return on equity of 35.04% and a net margin of 3.21%.The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. Chewy has set its FY 2025 guidance at EPS. On average, analysts anticipate that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Transactions at Chewy

In related news, CEO Sumit Singh sold 4,264 shares of Chewy stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $35.57, for a total value of $151,670.48. Following the completion of the sale, the chief executive officer directly owned 72,549 shares in the company, valued at $2,580,567.93. The trade was a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO William G. Billings sold 20,142 shares of Chewy stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $35.57, for a total value of $716,450.94. Following the completion of the sale, the chief accounting officer owned 29,464 shares of the company’s stock, valued at $1,048,034.48. The trade was a 40.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,008,777 shares of company stock valued at $1,252,444,321. Insiders own 0.43% of the company’s stock.

Chewy 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.