Truist Financial Corp Lowers Holdings in Chewy $CHWY

Truist Financial Corp trimmed its holdings in Chewy (NYSE:CHWY - Free Report) by 50.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 12,711 shares of the company's stock after selling 12,824 shares during the period. Truist Financial Corp's holdings in Chewy were worth $542,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its position in Chewy by 104.6% in the first quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock worth $31,000 after acquiring an additional 481 shares during the period. N.E.W. Advisory Services LLC purchased a new position in Chewy in the first quarter worth approximately $44,000. Parallel Advisors LLC grew its position in Chewy by 73.2% in the second quarter. Parallel Advisors LLC now owns 1,365 shares of the company's stock worth $58,000 after acquiring an additional 577 shares during the period. MorganRosel Wealth Management LLC purchased a new position in Chewy in the first quarter worth approximately $65,000. Finally, Farther Finance Advisors LLC grew its position in Chewy by 38.9% in the first quarter. Farther Finance Advisors LLC now owns 2,809 shares of the company's stock worth $94,000 after acquiring an additional 787 shares during the period. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Chewy news, CTO Satish Mehta sold 8,727 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $35.82, for a total value of $312,601.14. Following the sale, the chief technology officer directly owned 276,467 shares in the company, valued at $9,903,047.94. This trade represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William G. Billings sold 20,142 shares of the firm'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 completion of the sale, the chief accounting officer owned 29,464 shares in the company, valued at approximately $1,048,034.48. This represents a 40.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,657 shares of company stock worth $2,444,311. Corporate insiders own 0.43% of the company's stock.

Chewy Trading Down 0.8%

Shares of NYSE CHWY opened at $37.99 on Thursday. The stock has a market cap of $15.76 billion, a P/E ratio of 108.55, a PEG ratio of 9.58 and a beta of 1.62. Chewy has a 12-month low of $26.28 and a 12-month high of $48.62. The business's fifty day simple moving average is $38.95 and its 200-day simple moving average is $39.03.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings data on Wednesday, September 10th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.19). The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Chewy had a net margin of 1.22% and a return on equity of 50.45%. The firm's revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 earnings per share. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. On average, equities analysts forecast that Chewy will post 0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CHWY shares. Royal Bank Of Canada lowered their price objective on Chewy from $44.00 to $43.00 and set an "outperform" rating for the company in a research report on Thursday, September 11th. Robert W. Baird lowered their price objective on Chewy from $52.00 to $48.00 and set an "outperform" rating for the company in a research report on Thursday, September 11th. Seaport Res Ptn upgraded Chewy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 10th. Morgan Stanley decreased their price target on Chewy from $50.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, September 11th. Finally, Barclays decreased their price target on Chewy from $50.00 to $47.00 and set an "overweight" rating on the stock in a research note on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.84.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.