Greenwood Capital Associates LLC Invests $542,000 in Chewy $CHWY

Key Points

• Greenwood Capital Associates LLC made a new investment in Chewy, purchasing 12,717 shares valued at approximately $542,000 in Q2.
• Several institutional investors have significantly increased their stakes in Chewy, with 93.09% of the company's stock now owned by hedge funds and other institutional investors.
• Chewy's stock ratings are largely positive; with two "Strong Buy" ratings, twenty "Buy" ratings, and five "Hold" ratings, indicating strong institutional confidence.

Greenwood Capital Associates LLC purchased a new position in shares of Chewy (NYSE:CHWY - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,717 shares of the company's stock, valued at approximately $542,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC increased its position in Chewy by 150.2% in the 1st quarter. Parallel Advisors LLC now owns 788 shares of the company's stock valued at $26,000 after acquiring an additional 473 shares during the period. Golden State Wealth Management LLC grew its stake in shares of Chewy by 104.6% in 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 acquired a new stake in shares of Chewy during the first quarter worth $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 worth $55,000 after buying an additional 353 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 worth $61,000 after buying an additional 1,293 shares during the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised Chewy from a "hold" rating to a "buy" rating and set a $45.00 price objective on the stock in a report on Thursday, September 11th. Guggenheim reiterated a "buy" rating and set a $45.00 price target (up from $42.00) on shares of Chewy in a research report on Thursday, June 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Chewy in a research note on Saturday, September 27th. Mizuho raised Chewy from a "neutral" rating to an "outperform" rating and upped their target price for the company from $44.00 to $50.00 in a report on Monday, September 8th. Finally, Citizens Jmp raised Chewy to a "strong-buy" rating in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.84.

Insider Activity

In other news, CAO William G. Billings sold 20,142 shares of the stock in a transaction on Monday, August 4th. The shares were 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 of the company's stock, valued at $1,048,034.48. This represents a 40.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sumit Singh sold 29,557 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $35.57, for a total transaction of $1,051,342.49. Following the completion of the sale, the chief executive officer directly owned 540,406 shares of the company's stock, valued at $19,222,241.42. The trade was a 5.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,657 shares of company stock valued at $2,444,311 in the last three months. Corporate insiders own 0.43% of the company's stock.

Chewy Price Performance

CHWY opened at $37.55 on Friday. The business has a 50-day moving average of $38.54 and a two-hundred day moving average of $38.74. Chewy has a 12 month low of $26.28 and a 12 month high of $48.62. The stock has a market capitalization of $15.58 billion, a price-to-earnings ratio of 107.30, a price-to-earnings-growth ratio of 9.75 and a beta of 1.62.

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 analysts' consensus estimates of $0.33 by ($0.19). The company had revenue of $3.10 billion for 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 revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 EPS. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. Equities research analysts anticipate that Chewy will post 0.24 earnings per share for the current year.

About Chewy

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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