Hsbc Holdings PLC Invests $298,000 in Chewy $CHWY

Key Points

• HSBC Holdings PLC acquired a new stake in Chewy (NYSE: CHWY) by purchasing 9,248 shares valued at approximately $298,000 in the first quarter.
• Major institutional investors, including Durable Capital Partners LP and Neuberger Berman Group LLC, have also made significant investments in Chewy, with hedge funds owning 93.09% of the company.
• Analysts are optimistic about Chewy's stock performance, raising price targets with a consensus price target of $43.78 and a consensus rating of "Moderate Buy."

Hsbc Holdings PLC bought a new position in shares of Chewy (NYSE:CHWY - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,248 shares of the company's stock, valued at approximately $298,000.

A number of other institutional investors have also added to or reduced their stakes in CHWY. Liberty One Investment Management LLC increased its position in shares of Chewy by 4.7% in the 1st quarter. Liberty One Investment Management LLC now owns 7,051 shares of the company's stock worth $229,000 after purchasing an additional 314 shares during the last quarter. North Star Investment Management Corp. raised its stake in shares of Chewy by 26.6% in the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock valued at $55,000 after buying an additional 353 shares in the last quarter. Federated Hermes Inc. increased its position in Chewy by 2.3% in the 1st quarter. Federated Hermes Inc. now owns 15,685 shares of the company's stock valued at $510,000 after acquiring an additional 354 shares in the last quarter. Park Avenue Securities LLC grew its position in shares of Chewy by 5.3% during the 1st quarter. Park Avenue Securities LLC now owns 7,281 shares of the company's stock worth $237,000 after buying an additional 364 shares during the period. Finally, Signaturefd LLC grew its holdings in Chewy by 14.6% during the first quarter. Signaturefd LLC now owns 3,420 shares of the company's stock valued at $111,000 after purchasing an additional 436 shares during the period. Hedge funds and other institutional investors own 93.09% of the company's stock.

Insider Buying and Selling at Chewy

In other Chewy news, 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 value of $312,601.14. Following the completion of the transaction, the chief technology officer directly owned 276,467 shares in the company, valued at approximately $9,903,047.94. This represents a 3.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William G. Billings sold 20,142 shares of the firm'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 transaction of $716,450.94. Following the completion of the transaction, the chief accounting officer directly owned 29,464 shares in the company, valued at approximately $1,048,034.48. The trade was a 40.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,008,777 shares of company stock valued at $1,252,444,321 over the last three months. Corporate insiders own 0.43% of the company's stock.

Analyst Ratings Changes

CHWY has been the topic of several research reports. Wall Street Zen downgraded shares of Chewy from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Evercore ISI set a $52.00 target price on Chewy and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Cowen reissued a "buy" rating on shares of Chewy in a research report on Friday, June 6th. Mizuho upgraded Chewy from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $44.00 to $50.00 in a report on Monday. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $43.00 price objective (up from $41.00) on shares of Chewy in a report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Chewy currently has an average rating of "Moderate Buy" and a consensus target price of $43.94.

Chewy Stock Down 0.2%

Shares of Chewy stock traded down $0.08 on Monday, hitting $42.25. 3,846,267 shares of the company traded hands, compared to its average volume of 6,276,284. The company has a market cap of $17.54 billion, a PE ratio of 47.54, a PEG ratio of 8.84 and a beta of 1.65. Chewy has a 12-month low of $25.82 and a 12-month high of $48.62. The company has a 50-day moving average price of $38.84 and a 200 day moving average price of $38.23.

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

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.