Chewy $CHWY Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in Chewy by 21.7% during the first quarter, now owning 1,632,635 shares worth approximately $53 million.
• Several institutional investors made notable changes to their positions in Chewy, including Victory Capital Management, which increased its stake by 74.5% in the first quarter.
• Wall Street analysts are optimistic about Chewy, with multiple upgrades and target price increases, now generally ranging from $44 to $50, reflecting a consensus rating of "Moderate Buy."

Raymond James Financial Inc. reduced its stake in shares of Chewy (NYSE:CHWY - Free Report) by 21.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,632,635 shares of the company's stock after selling 451,253 shares during the period. Raymond James Financial Inc. owned about 0.39% of Chewy worth $53,077,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in Chewy by 150.2% during the 1st quarter. Parallel Advisors LLC now owns 788 shares of the company's stock worth $26,000 after acquiring an additional 473 shares in the last quarter. Banque Transatlantique SA acquired a new stake in shares of Chewy during the fourth quarter worth $30,000. Golden State Wealth Management LLC raised its holdings in shares of Chewy by 104.6% during the first quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock worth $31,000 after purchasing an additional 481 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in shares of Chewy during the first quarter worth $44,000. Finally, North Star Investment Management Corp. raised its holdings in shares of Chewy by 26.6% during the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock worth $55,000 after purchasing an additional 353 shares during the period. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Price Performance

Shares of CHWY traded up $1.06 during trading hours on Tuesday, reaching $40.80. 2,633,621 shares of the company's stock traded hands, compared to its average volume of 6,320,986. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of 45.78, a P/E/G ratio of 8.26 and a beta of 1.67. Chewy has a twelve month low of $25.19 and a twelve month high of $48.62. The business's fifty day simple moving average is $39.11 and its two-hundred day simple moving average is $38.02.

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

Analyst Ratings Changes

CHWY has been the topic of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Chewy from $36.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, June 12th. Mizuho lowered Chewy from an "outperform" rating to a "neutral" rating and boosted their price objective for the company from $43.00 to $47.00 in a research report on Monday, June 9th. Cowen reissued a "buy" rating on shares of Chewy in a report on Friday, June 6th. UBS Group reissued a "neutral" rating and set a $44.00 price target on shares of Chewy in a report on Tuesday, August 5th. Finally, Barclays boosted their price target on shares of Chewy from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $43.78.

Insider Transactions at Chewy

In other news, CAO William G. Billings sold 20,142 shares of the company's stock in a transaction on Monday, August 4th. The stock was 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 in the company, valued at $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 available through this link. Also, CEO Sumit Singh sold 4,264 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer 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. 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 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.