Zuckerman Investment Group LLC Trims Stock Holdings in Chewy $CHWY

Key Points

• Zuckerman Investment Group LLC has reduced its holdings in Chewy by 2.9%, selling 15,374 shares, bringing their total ownership to 516,740 shares valued at approximately $16.8 million.
• CEO Sumit Singh sold 4,264 shares of Chewy, representing a 5.55% decrease in his ownership, with a transaction value of around $151,670.
• Multiple institutional investors have made significant adjustments to their Chewy positions, with 93.09% of the stock owned by institutional stakeholders, indicating strong investor confidence.

Zuckerman Investment Group LLC trimmed its holdings in shares of Chewy (NYSE:CHWY - Free Report) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 516,740 shares of the company's stock after selling 15,374 shares during the quarter. Chewy accounts for about 1.8% of Zuckerman Investment Group LLC's investment portfolio, making the stock its 23rd biggest position. Zuckerman Investment Group LLC owned approximately 0.12% of Chewy worth $16,799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Comerica Bank increased its position in shares of Chewy by 1.5% during the first quarter. Comerica Bank now owns 68,798 shares of the company's stock worth $2,237,000 after acquiring an additional 1,025 shares during the last quarter. Oak Harvest Investment Services boosted its position in shares of Chewy by 18.1% during the first quarter. Oak Harvest Investment Services now owns 79,182 shares of the company's stock worth $2,574,000 after buying an additional 12,137 shares during the period. Jump Financial LLC acquired a new stake in shares of Chewy in the first quarter valued at $5,261,000. Kestra Advisory Services LLC increased its holdings in shares of Chewy by 19.6% in the first quarter. Kestra Advisory Services LLC now owns 49,007 shares of the company's stock valued at $1,593,000 after buying an additional 8,048 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Chewy by 426.1% during the 1st quarter. Ameriprise Financial Inc. now owns 1,189,957 shares of the company's stock valued at $38,686,000 after purchasing an additional 963,780 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $41.75, for a total value of $1,250,000,010.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction of $716,450.94. Following the completion of the transaction, the chief accounting officer directly owned 29,464 shares in the company, valued at $1,048,034.48. This trade represents a 40.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,008,777 shares of company stock valued at $1,252,444,321 over the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Chewy Price Performance

Shares of CHWY traded down $0.44 during trading hours on Friday, hitting $40.99. 4,837,550 shares of the stock were exchanged, compared to its average volume of 6,288,566. Chewy has a fifty-two week low of $25.19 and a fifty-two week high of $48.62. The business has a 50-day moving average of $39.07 and a 200-day moving average of $38.08. The firm has a market capitalization of $17.02 billion, a P/E ratio of 153.44, a price-to-earnings-growth ratio of 8.65 and a beta of 1.67.

Chewy (NYSE:CHWY - Get Free Report) last issued its 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 business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. Chewy had a net margin of 3.21% and a return on equity of 35.04%. Chewy's revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. Chewy has set its FY 2025 guidance at EPS. As a group, analysts forecast that Chewy will post 0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. UBS Group restated a "neutral" rating and set a $44.00 price target on shares of Chewy in a report on Tuesday, August 5th. Citigroup reiterated an "outperform" rating on shares of Chewy in a report on Thursday, July 10th. Cowen reiterated a "buy" rating on shares of Chewy in a research note on Friday, June 6th. JMP Securities lifted their target price 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. Finally, Jefferies Financial Group restated a "hold" rating and issued a $43.00 target price (up from $41.00) on shares of Chewy in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Chewy 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.