Wellington Management Group LLP Sells 574,504 Shares of Chewy $CHWY

Key Points

• Wellington Management Group LLP cut its Chewy stake by 80.4% in the second quarter, selling 574,504 shares and retaining 139,844 shares worth approximately $2.75 million.
• Institutional ownership remains high at 93.09%, with major investors including Viking Global, AQR Capital, State Street and SG Americas Securities increasing their positions.
• Chewy reported 7.3% year-over-year revenue growth to $3.33 billion and raised its fiscal 2026 outlook, but shares remain under pressure due to disappointing free cash flow and weak technical momentum. Analysts maintain a consensus “Moderate Buy” rating with a $31.05 target price.

Wellington Management Group LLP lowered its stake in shares of Chewy (NYSE:CHWY - Free Report) by 80.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,844 shares of the company's stock after selling 574,504 shares during the period. Wellington Management Group LLP's holdings in Chewy were worth $2,748,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Viking Global Investors LP raised its stake in shares of Chewy by 146.9% during the 4th quarter. Viking Global Investors LP now owns 13,536,645 shares of the company's stock valued at $447,386,000 after purchasing an additional 8,052,955 shares during the period. AQR Capital Management LLC boosted its stake in Chewy by 120.2% in the 3rd quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company's stock worth $407,948,000 after purchasing an additional 5,564,803 shares during the period. Norges Bank bought a new position in Chewy in the 4th quarter worth about $154,647,000. State Street Corp grew its holdings in Chewy by 75.5% during the 2nd quarter. State Street Corp now owns 6,170,197 shares of the company's stock valued at $262,974,000 after buying an additional 2,654,496 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Chewy by 764.8% during the 1st quarter. SG Americas Securities LLC now owns 2,213,220 shares of the company's stock valued at $59,757,000 after buying an additional 1,957,284 shares in the last quarter. 93.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Chewy news, General Counsel Da-Wai Hu sold 4,203 shares of the business's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $19.49, for a total value of $81,916.47. Following the completion of the transaction, the general counsel owned 4,103 shares of the company's stock, valued at $79,967.47. The trade was a 50.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

More Chewy News

Here are the key news stories impacting Chewy this week:

• Positive Sentiment: Chewy reported second-quarter revenue of $3.33 billion, up 7.3% year over year and slightly above estimates. Adjusted EPS of $0.36 was approximately in line with expectations, while net income rose to $80.5 million. Chewy Announces Second Quarter 2026 Financial Results
• Positive Sentiment: Management raised its fiscal 2026 revenue outlook to $13.5 billion-$13.6 billion, above the roughly $12.8 billion consensus estimate, and increased its profitability outlook. Third-quarter revenue guidance of $3.3 billion-$3.4 billion was near or slightly above expectations.
• Positive Sentiment: Autoship sales reached approximately $2.82 billion, or 84.6% of revenue, and active customers increased 3.8% to 21.7 million. Management also cited market-share gains, AI-related cost savings and potential benefits from veterinary-care expansion. CHWY Q2 Earnings Meet Estimates
• Positive Sentiment: Several analysts maintained Buy or Outperform ratings despite trimming targets, including TD Cowen at $32, Bank of America at $27 and Citizens JMP at $28.
• Neutral Sentiment: RBC said Chewy is gaining share and has long-term acquisition opportunities, but category dynamics and the lack of a broad pet-market recovery limit the near-term catalyst path. Chewy Gaining Market Share
• Neutral Sentiment: Price targets were mixed: Baird reduced its target to $28 while retaining Outperform, and Rosenblatt cut its target to $24 with a Neutral rating. Needham reaffirmed Hold.
• Negative Sentiment: The post-earnings selloff reflects disappointment that the quarter did not deliver a major upside surprise. Investors were particularly concerned about free cash flow, which missed expectations, and lower liquidity following acquisition-related spending and financing. Chewy Shares Drop Despite Earnings Beat
• Negative Sentiment: Consumers are prioritizing pet necessities over discretionary items such as treats, while gross margin remained flat at 30.4%. Evercore ISI downgraded the stock, citing slowing organic growth and limited reasons to outperform.
• Negative Sentiment: Chewy trades near the lower end of its 12-month range and below its 50-day and 200-day moving averages, suggesting technical momentum remains weak.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CHWY shares. Wolfe Research reiterated an "outperform" rating and set a $27.00 price target on shares of Chewy in a research report on Thursday, June 11th. Barclays reduced their price objective on shares of Chewy from $40.00 to $36.00 and set an "overweight" rating for the company in a research note on Thursday, June 11th. Royal Bank Of Canada decreased their target price on shares of Chewy from $34.00 to $31.00 and set an "outperform" rating on the stock in a report on Thursday. Needham & Company LLC reiterated a "hold" rating on shares of Chewy in a research note on Thursday. Finally, Citizens Jmp reiterated a "market outperform" rating and issued a $28.00 target price on shares of Chewy in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, Chewy has a consensus rating of "Moderate Buy" and a consensus target price of $31.05.

Chewy Stock Performance

Shares of CHWY opened at $21.11 on Friday. The company has a market cap of $8.64 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 0.83 and a beta of 1.42. The company has a current ratio of 0.84, a quick ratio of 0.35 and a debt-to-equity ratio of 1.59. The stock has a 50-day moving average price of $22.44 and a 200-day moving average price of $23.09. Chewy has a 12-month low of $17.40 and a 12-month high of $40.55.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.18 by $0.18. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.32 billion. Chewy had a return on equity of 60.88% and a net margin of 2.09%.Chewy's revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share. As a group, equities analysts forecast that Chewy will post 0.8 earnings per share for the current fiscal year.

About Chewy

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile applications, the company sells pet food, treats, supplies, toys, bedding, medications, and other products for dogs, cats, fish, birds, reptiles, and small pets.

Chewy supports recurring purchases through its Autoship program and provides access to prescription and over-the-counter pet medications through Chewy Pharmacy. The company also offers pet health-related services, including veterinary consultations in certain markets, and sells products under a range of national and private-label brands.

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