DAVENPORT & Co LLC Reduces Holdings in Chewy $CHWY

Key Points

• Davenport & Co LLC reduced its holdings in Chewy by 20.7% in Q2, now owning 43,115 shares worth approximately $1.84 million.
• Chewy's stock is currently experiencing an upswing, with a recent increase of 2.1%, while its market capitalization stands at $16.19 billion.
• The company reported a loss of $0.19 per share in its latest earnings, missing consensus estimates, despite revenue exceeding expectations.

DAVENPORT & Co LLC decreased its holdings in shares of Chewy (NYSE:CHWY - Free Report) by 20.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,115 shares of the company's stock after selling 11,261 shares during the period. DAVENPORT & Co LLC's holdings in Chewy were worth $1,838,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CHWY. Golden State Wealth Management LLC raised its position in Chewy by 104.6% during the 1st quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after purchasing an additional 481 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in Chewy during the 1st quarter valued at approximately $44,000. North Star Investment Management Corp. raised its position in Chewy by 26.6% during the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock valued at $55,000 after purchasing an additional 353 shares during the last quarter. Parallel Advisors LLC raised its position in Chewy by 73.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,365 shares of the company's stock valued at $58,000 after purchasing an additional 577 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Chewy by 225.7% during the 1st quarter. UMB Bank n.a. now owns 1,866 shares of the company's stock valued at $61,000 after purchasing an additional 1,293 shares during the last quarter. Institutional investors own 93.09% of the company's stock.

Chewy Stock Up 2.1%

Chewy stock opened at $39.04 on Friday. The company has a market capitalization of $16.19 billion, a P/E ratio of 111.54, a PEG ratio of 9.56 and a beta of 1.62. The stock's 50 day moving average is $38.69 and its 200 day moving average is $38.88. Chewy has a twelve month low of $26.28 and a twelve month high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last posted 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). The company had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.08 billion. Chewy had a return on equity of 50.45% and a net margin of 1.22%.The business's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 EPS. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. As a group, equities analysts expect that Chewy will post 0.24 EPS for the current year.

Insider Buying and Selling

In related news, CAO William G. Billings sold 20,142 shares of the company's stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sumit Singh sold 4,264 shares of the company's stock in a transaction that occurred on 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 owned 72,549 shares in the company, valued at $2,580,567.93. The trade was a 5.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,657 shares of company stock worth $2,444,311 in the last 90 days. Insiders own 0.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CHWY. Moffett Nathanson raised Chewy from a "neutral" rating to a "buy" rating and set a $48.00 price target for the company in a research report on Thursday, September 25th. Seaport Res Ptn raised Chewy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 10th. Wall Street Zen lowered Chewy from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Evercore ISI set a $52.00 target price on Chewy and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Finally, Deutsche Bank Aktiengesellschaft raised Chewy from a "hold" rating to a "buy" rating and set a $45.00 target price for the company in a research report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $45.84.

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.

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