Chewy $CHWY Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Chewy by 2.6%, now owning approximately 0.23% of the company, which is valued at about $30.7 million after selling over 25,000 shares.
• Chewy reported a 6.3% increase in revenue year-over-year for the latest quarter, with earnings per share (EPS) of $0.35, slightly exceeding analysts' estimates.
• Analysts have mixed views on Chewy's stock, with numerous upgrades, including Mizuho raising its target price to $47 and Barclays to $50, while the consensus rating is a Moderate Buy with an average target price of $43.78.

Charles Schwab Investment Management Inc. lessened its holdings in Chewy (NYSE:CHWY - Free Report) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 944,974 shares of the company's stock after selling 25,254 shares during the period. Charles Schwab Investment Management Inc. owned about 0.23% of Chewy worth $30,721,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CHWY. Durable Capital Partners LP bought a new position in Chewy in the 4th quarter worth approximately $79,050,000. Assenagon Asset Management S.A. bought a new stake in Chewy in the first quarter worth $61,390,000. Alyeska Investment Group L.P. raised its stake in shares of Chewy by 6,336.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,609,149 shares of the company's stock valued at $53,890,000 after acquiring an additional 1,584,149 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Chewy during the first quarter valued at about $19,552,000. Finally, Freestone Grove Partners LP purchased a new position in shares of Chewy during the fourth quarter valued at about $19,312,000. Hedge funds and other institutional investors own 93.09% of the company's stock.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $41.75, for a total transaction of $1,250,000,010.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Satish Mehta sold 8,727 shares of the company's stock in a transaction 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 $9,903,047.94. This trade represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,008,777 shares of company stock worth $1,252,444,321 in the last quarter. 0.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CHWY has been the topic of a number of recent research reports. Cowen restated a "buy" rating on shares of Chewy in a report on Friday, June 6th. JPMorgan Chase & Co. increased their price target on shares of Chewy from $36.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, June 12th. Citigroup restated an "outperform" rating on shares of Chewy in a research report on Thursday, July 10th. Citizens Jmp upgraded shares of Chewy to a "strong-buy" rating in a research report on Thursday, July 10th. Finally, Barclays raised their target price on shares of Chewy from $44.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.78.

Chewy Price Performance

Shares of NYSE:CHWY traded down $0.5590 during trading hours on Friday, hitting $39.5810. The company's stock had a trading volume of 7,076,905 shares, compared to its average volume of 6,362,788. The company has a market capitalization of $16.43 billion, a price-to-earnings ratio of 44.47, a P/E/G ratio of 8.38 and a beta of 1.67. The firm's fifty day moving average price is $39.19 and its 200 day moving average price is $38.01. Chewy has a 52 week low of $25.19 and a 52 week high of $48.62.

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

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.