Chewy $CHWY Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. significantly reduced its stake in Chewy by 92.8%, now holding only 23,916 shares after selling over 309,000 shares during Q1.
• Chewy's stock has received several analyst upgrades, with Barclays raising its price target to $50.00 and multiple firms maintaining or increasing their buy ratings.
• Insider trading activity included a notable sale by CAO William G. Billings of over 20,000 shares, reflecting a 40.60% decrease in ownership after the transaction.

Russell Investments Group Ltd. trimmed its position in Chewy (NYSE:CHWY - Free Report) by 92.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,916 shares of the company's stock after selling 309,842 shares during the period. Russell Investments Group Ltd.'s holdings in Chewy were worth $778,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Durable Capital Partners LP bought a new position in Chewy during the 4th quarter worth approximately $79,050,000. Assenagon Asset Management S.A. acquired a new stake in shares of Chewy during the 1st quarter valued at approximately $61,390,000. Alyeska Investment Group L.P. lifted its stake in 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 purchasing an additional 1,584,149 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Chewy during the first quarter worth $19,552,000. Finally, Freestone Grove Partners LP acquired a new position in Chewy in the fourth quarter worth $19,312,000. 93.09% of the stock is owned by institutional investors.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $41.75, for a total transaction of $1,250,000,010.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Satish Mehta sold 8,727 shares of the 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 transaction, the chief technology officer directly owned 276,467 shares of the company's stock, valued at approximately $9,903,047.94. The trade was a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,008,777 shares of company stock valued at $1,252,444,321 over the last quarter. Corporate insiders own 0.43% of the company's stock.

Chewy Stock Down 0.0%

CHWY stock traded down $0.01 during trading on Thursday, reaching $40.74. 1,102,564 shares of the company's stock were exchanged, compared to its average volume of 6,262,909. Chewy has a 1-year low of $25.19 and a 1-year high of $48.62. The company's fifty day moving average price is $38.89 and its 200-day moving average price is $38.17. The firm has a market cap of $16.91 billion, a PE ratio of 45.86, a P/E/G ratio of 8.55 and a beta of 1.65.

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. As a group, sell-side analysts expect that Chewy will post 0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays upped their target price on Chewy from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. Mizuho lowered 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. boosted their price target on shares of Chewy from $36.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Morgan Stanley restated an "overweight" rating and set a $50.00 price target (up previously from $39.00) on shares of Chewy in a research report on Thursday, June 12th. Finally, JMP Securities increased their price objective on shares of Chewy from $39.00 to $48.00 and gave the stock a "market outperform" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.78.

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.