Northwest & Ethical Investments L.P. Has $1.48 Million Stock Position in Chewy $CHWY

Key Points

• Northwest & Ethical Investments L.P. significantly increased its holdings in Chewy by 208.9%, now owning 45,724 shares valued at approximately $1.48 million.
• Analysts have provided positive forecasts for Chewy, with multiple firms, including Royal Bank of Canada and Morgan Stanley, raising their price targets, indicating a strong consensus among analysts.
• Chewy's latest quarterly earnings showed a revenue of $3.12 billion, a 6.3% increase from the previous year, surpassing analyst estimates by $0.04 per share.

Northwest & Ethical Investments L.P. increased its position in shares of Chewy (NYSE:CHWY - Free Report) by 208.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,724 shares of the company's stock after acquiring an additional 30,923 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Chewy were worth $1,484,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Durable Capital Partners LP purchased a new stake in shares of Chewy during the fourth quarter worth $79,050,000. Neuberger Berman Group LLC raised its holdings in shares of Chewy by 35.7% during the first quarter. Neuberger Berman Group LLC now owns 2,304,006 shares of the company's stock worth $74,903,000 after acquiring an additional 606,526 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Chewy during the first quarter worth $61,390,000. Alyeska Investment Group L.P. raised its holdings 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 worth $53,890,000 after acquiring an additional 1,584,149 shares in the last quarter. Finally, Northern Trust Corp increased its position in Chewy by 151.7% during the fourth quarter. Northern Trust Corp now owns 921,580 shares of the company's stock worth $30,864,000 after buying an additional 555,372 shares during the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of Chewy stock in a transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William G. Billings sold 20,142 shares of Chewy stock in a transaction 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 sale, the chief accounting officer directly owned 29,464 shares of the company's stock, valued at $1,048,034.48. This represents a 40.60% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,008,777 shares of company stock worth $1,252,444,321. 0.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on CHWY. Evercore ISI set a $52.00 target price on shares of Chewy and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Mizuho downgraded shares of Chewy from an "outperform" rating to a "neutral" rating and increased their target price for the stock from $43.00 to $47.00 in a research report on Monday, June 9th. 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 research report on Thursday, June 12th. Cowen reissued a "buy" rating on shares of Chewy in a research report on Friday, June 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Chewy in a research report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Chewy has a consensus rating of "Moderate Buy" and an average price target of $43.78.

Chewy Trading Down 1.4%

Shares of Chewy stock traded down $0.5590 during midday trading on Friday, reaching $39.5810. The company had a trading volume of 7,076,905 shares, compared to its average volume of 6,347,815. The company has a market capitalization of $16.43 billion, a price-to-earnings ratio of 44.47, a price-to-earnings-growth ratio of 8.55 and a beta of 1.67. The stock has a fifty day simple moving average of $39.19 and a 200 day simple moving average of $38.01. Chewy has a 1-year low of $25.19 and a 1-year high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly 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 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 for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 earnings per share. Chewy has set its FY 2025 guidance at EPS. Sell-side analysts expect that Chewy will post 0.24 earnings per share 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.