Chewy $CHWY Shares Sold by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. reduced its holdings in Chewy by 87.7% in the first quarter, selling over 1.4 million shares and now owns 198,160 shares valued at $6.4 million.
• Multiple analysts have provided contrasting ratings for Chewy, with Barclays raising its price target to $50.00 and Wall Street Zen downgrading the stock to a "hold" rating.
• Chewy reported a 6.3% year-over-year revenue increase for the quarter, surpassing analysts' expectations with earnings of $0.35 per share compared to a forecast of $0.34.

Alyeska Investment Group L.P. lessened its holdings in Chewy (NYSE:CHWY - Free Report) by 87.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 198,160 shares of the company's stock after selling 1,410,989 shares during the period. Alyeska Investment Group L.P.'s holdings in Chewy were worth $6,442,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Aigen Investment Management LP acquired a new position in Chewy in the first quarter valued at about $791,000. Jefferies Financial Group Inc. acquired a new stake in Chewy during the 1st quarter valued at $3,251,000. D.A. Davidson & CO. raised its position in Chewy by 38.7% in the 1st quarter. D.A. Davidson & CO. now owns 43,725 shares of the company's stock valued at $1,422,000 after purchasing an additional 12,206 shares during the last quarter. Polar Asset Management Partners Inc. lifted its position in Chewy by 26.5% during 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 in the last quarter. Finally, Victory Capital Management Inc. increased its position in Chewy by 74.5% in the 1st quarter. Victory Capital Management Inc. now owns 139,889 shares of the company's stock valued at $4,548,000 after acquiring an additional 59,711 shares in the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Stock Down 16.3%

CHWY stock traded down $6.86 during trading on Wednesday, reaching $35.24. The stock had a trading volume of 31,738,311 shares, compared to its average volume of 6,468,831. The company has a market capitalization of $14.63 billion, a price-to-earnings ratio of 39.60, a P/E/G ratio of 8.69 and a beta of 1.65. The company's 50 day moving average is $38.82 and its two-hundred day moving average is $38.31. Chewy has a one year low of $26.28 and a one year high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings data on Wednesday, September 10th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.19). Chewy had a net margin of 3.21% and a return on equity of 35.04%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the company posted $0.24 earnings per share. Chewy's revenue for the quarter was up 8.6% on a year-over-year basis. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. As a group, research analysts predict that Chewy will post 0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

CHWY has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $50.00 target price (up previously from $39.00) on shares of Chewy in a research note on Thursday, June 12th. Citizens Jmp upgraded Chewy to a "strong-buy" rating in a research note on Thursday, July 10th. Evercore ISI set a $52.00 price objective on Chewy and gave the company an "outperform" rating in a research report on Thursday, June 12th. JMP Securities raised their price objective on shares of Chewy from $39.00 to $48.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 10th. Finally, Citigroup restated an "outperform" rating on shares of Chewy in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.94.

Insider Activity at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the business's stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sumit Singh sold 4,264 shares of the 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 $151,670.48. Following the sale, the chief executive officer directly owned 72,549 shares of the company's stock, valued at approximately $2,580,567.93. This trade represents a 5.55% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,008,777 shares of company stock valued at $1,252,444,321. Company insiders own 0.43% of the company's stock.

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.