Bartlett & CO. Wealth Management LLC Sells 35,650 Shares of Chewy $CHWY

Key Points

• Bartlett & CO. Wealth Management LLC sold 35,650 shares of Chewy, reducing its holdings by 70.3%, leaving it with a total of 15,080 shares valued at about $643,000.
• Several institutional investors, including Janney Montgomery Scott LLC and Dakota Wealth Management, increased their positions in Chewy during the same quarter.
• Chewy reported a net profit margin of 1.22% with revenue reaching $3.10 billion, and its earnings per share missed expectations at $0.14 compared to the consensus estimate of $0.33.

Bartlett & CO. Wealth Management LLC decreased its position in Chewy (NYSE:CHWY - Free Report) by 70.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 15,080 shares of the company's stock after selling 35,650 shares during the period. Bartlett & CO. Wealth Management LLC's holdings in Chewy were worth $643,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its holdings in Chewy by 33.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 72,065 shares of the company's stock worth $3,071,000 after acquiring an additional 17,911 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Chewy by 27.1% in the second quarter. State of Alaska Department of Revenue now owns 24,690 shares of the company's stock worth $1,052,000 after purchasing an additional 5,270 shares during the last quarter. ST Germain D J Co. Inc. bought a new stake in shares of Chewy in the second quarter worth about $139,000. Owen LaRue LLC purchased a new position in Chewy during the 2nd quarter valued at about $1,172,000. Finally, Dakota Wealth Management raised its position in Chewy by 192.4% during the 2nd quarter. Dakota Wealth Management now owns 36,154 shares of the company's stock valued at $1,541,000 after purchasing an additional 23,789 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CTO Satish Mehta sold 8,727 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $35.82, for a total transaction of $312,601.14. Following the completion of the sale, the chief technology officer directly owned 276,467 shares in the company, valued at approximately $9,903,047.94. The trade was a 3.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $716,450.94. Following the sale, the chief accounting officer directly owned 29,464 shares of the company's stock, valued at approximately $1,048,034.48. This represents 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 68,657 shares of company stock valued at $2,444,311. Insiders own 0.43% of the company's stock.

Chewy Trading Down 0.6%

Shares of CHWY stock opened at $39.29 on Friday. Chewy has a 12-month low of $26.28 and a 12-month high of $48.62. The stock has a market capitalization of $16.30 billion, a P/E ratio of 112.27, a P/E/G ratio of 9.82 and a beta of 1.62. The firm's 50 day moving average is $38.52 and its 200 day moving average is $38.70.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings results 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 1.22% and a return on equity of 50.45%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the company earned $0.24 earnings per share. Chewy's quarterly revenue was up 8.6% compared to the same quarter last year. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. As a group, equities analysts predict that Chewy will post 0.24 earnings per share for the current year.

Analyst Ratings Changes

CHWY has been the topic of a number of recent analyst reports. TD Cowen cut their price objective on Chewy from $50.00 to $48.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. Moffett Nathanson upgraded shares of Chewy from a "neutral" rating to a "buy" rating and set a $48.00 price target on the stock in a report on Thursday, September 25th. Jefferies Financial Group reissued a "hold" rating and set a $43.00 price objective (up from $41.00) on shares of Chewy in a research report on Thursday, June 5th. Citizens Jmp raised shares of Chewy to a "strong-buy" rating in a research report on Thursday, July 10th. Finally, Seaport Res Ptn upgraded shares of Chewy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Chewy currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.84.

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.

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