49,607 Shares in Chewy $CHWY Bought by Silvant Capital Management LLC

Key Points

• Silvant Capital Management LLC has acquired a new stake in Chewy, purchasing 49,607 shares valued at approximately $1.6 million during the first quarter.
• Chewy's stock has been positively received by analysts, with several upgrades including a target price increase from Morgan Stanley to $50.00.
• Insider sales at Chewy have been significant, with major shareholder Argos Holdings selling over 29 million shares for approximately $1.25 billion.

Silvant Capital Management LLC purchased a new stake in Chewy (NYSE:CHWY - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 49,607 shares of the company's stock, valued at approximately $1,613,000.

Other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC boosted its stake in shares of Chewy by 150.2% in the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock valued at $26,000 after buying an additional 473 shares during the period. Banque Transatlantique SA bought a new stake in shares of Chewy in the fourth quarter valued at approximately $30,000. Golden State Wealth Management LLC boosted its stake in shares of Chewy by 104.6% in the first quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after buying an additional 481 shares during the period. N.E.W. Advisory Services LLC bought a new stake in shares of Chewy in the first quarter valued at approximately $44,000. Finally, North Star Investment Management Corp. boosted its stake in shares of Chewy by 26.6% in the first 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 during the period. 93.09% of the stock is currently owned by institutional investors.

Chewy Stock Down 1.1%

Shares of NYSE:CHWY traded down $0.44 during trading on Friday, hitting $40.99. 4,837,550 shares of the company were exchanged, compared to its average volume of 6,288,566. The business's 50 day moving average is $39.06 and its 200-day moving average is $38.11. The company has a market capitalization of $17.02 billion, a P/E ratio of 46.06, a price-to-earnings-growth ratio of 8.65 and a beta of 1.67. Chewy has a 1-year low of $25.19 and a 1-year high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.08 billion. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 earnings per share. Chewy has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Chewy will post 0.24 earnings per share for the current year.

Insider Activity at Chewy

In related news, CAO William G. Billings sold 20,142 shares of the business's 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 sale, the chief accounting officer owned 29,464 shares of the company's stock, valued at $1,048,034.48. The trade was a 40.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Satish Mehta sold 8,727 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $35.82, for a total transaction of $312,601.14. Following the completion of the sale, 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 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 three months. 0.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CHWY has been the subject of several recent research reports. UBS Group reiterated a "neutral" rating and issued a $44.00 price target on shares of Chewy in a research note on Tuesday, August 5th. 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 restated a "buy" rating on shares of Chewy in a research note on Friday, June 6th. Citigroup restated an "outperform" rating on shares of Chewy in a research note on Thursday, July 10th. Finally, JMP Securities upped their target price on Chewy from $39.00 to $48.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $43.78.

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.