Wellington Management Group LLP Cuts Stock Holdings in Chewy $CHWY

Key Points

• Wellington Management Group LLP reduced its holdings in Chewy ($CHWY) by 15.9%, selling 113,683 shares, and now owns approximately 0.15% of the company, valued at around $19.6 million.
• Chewy's stock has shown significant volatility, with a 52-week low of $25.19 and a high of $48.62, currently trading at $39.75.
• Analysts have mixed views on Chewy, with JPMorgan upgrading its price target to $47.00 while others maintain hold ratings, suggesting a current consensus of "Moderate Buy" for the stock.

Wellington Management Group LLP lowered its stake in Chewy (NYSE:CHWY - Free Report) by 15.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 602,168 shares of the company's stock after selling 113,683 shares during the quarter. Wellington Management Group LLP owned approximately 0.15% of Chewy worth $19,576,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in Chewy by 150.2% in the 1st 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 last quarter. Banque Transatlantique SA bought a new position in Chewy in the 4th quarter valued at approximately $30,000. Golden State Wealth Management LLC raised its holdings in Chewy by 104.6% in the 1st 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 last quarter. N.E.W. Advisory Services LLC bought a new position in Chewy in the 1st quarter valued at approximately $44,000. Finally, North Star Investment Management Corp. raised its holdings in 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 during the last quarter. Institutional investors own 93.09% of the company's stock.

Chewy Price Performance

Shares of NYSE:CHWY traded down $0.44 during mid-day trading on Friday, hitting $40.99. The company had a trading volume of 4,837,550 shares, compared to its average volume of 6,303,953. The firm has a fifty day moving average price of $39.07 and a 200 day moving average price of $38.08. Chewy has a one year low of $25.19 and a one year high of $48.62. The company has a market capitalization of $17.02 billion, a PE ratio of 46.06, a price-to-earnings-growth ratio of 8.44 and a beta of 1.67.

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

Analysts Set New Price Targets

Several research analysts have issued reports on CHWY shares. Barclays raised their price target on shares of Chewy from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. Morgan Stanley restated an "overweight" rating and set a $50.00 price target (up previously from $39.00) on shares of Chewy in a report on Thursday, June 12th. Guggenheim restated a "buy" rating and set a $45.00 price target (up previously from $42.00) on shares of Chewy in a report on Thursday, June 12th. Jefferies Financial Group restated a "hold" rating and set a $43.00 price target (up previously from $41.00) on shares of Chewy in a report on Thursday, June 5th. Finally, UBS Group restated a "neutral" rating and set a $44.00 price target on shares of Chewy in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $43.78.

Insider Buying and Selling at Chewy

In related news, CEO Sumit Singh sold 4,264 shares of Chewy stock in a transaction on Monday, August 4th. The shares were sold at an average price of $35.57, for a total value of $151,670.48. Following the completion of the sale, the chief executive officer owned 72,549 shares of the company's stock, valued at approximately $2,580,567.93. This trade represents a 5.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Satish Mehta sold 8,727 shares of Chewy 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 transaction, the chief technology officer directly owned 276,467 shares in the company, valued at $9,903,047.94. This represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,008,777 shares of company stock worth $1,252,444,321. 0.43% of the stock is owned by company insiders.

About Chewy

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.