Allspring Global Investments Holdings LLC Boosts Position in Chewy $CHWY

Allspring Global Investments Holdings LLC raised its position in Chewy (NYSE:CHWY) by 224.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,892,344 shares of the company’s stock after purchasing an additional 1,308,343 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.46% of Chewy worth $79,214,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Liberty One Investment Management LLC boosted its stake in Chewy by 4.7% during the first quarter. Liberty One Investment Management LLC now owns 7,051 shares of the company’s stock worth $229,000 after buying an additional 314 shares during the period. North Star Investment Management Corp. raised its position 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 purchasing an additional 353 shares in the last quarter. Federated Hermes Inc. lifted its stake in Chewy by 2.3% in the first quarter. Federated Hermes Inc. now owns 15,685 shares of the company’s stock worth $510,000 after acquiring an additional 354 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Chewy by 5.3% during the 1st quarter. Park Avenue Securities LLC now owns 7,281 shares of the company’s stock worth $237,000 after purchasing an additional 364 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Chewy by 13.7% during the 2nd quarter. GAMMA Investing LLC now owns 3,369 shares of the company’s stock worth $144,000 after buying an additional 405 shares during the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO William G. Billings sold 20,142 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was 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 of the company’s stock, valued at $1,048,034.48. This trade represents a 40.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sumit Singh sold 4,264 shares of the firm’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $35.57, for a total value of $151,670.48. Following the sale, the chief executive officer owned 72,549 shares of the company’s stock, valued at $2,580,567.93. The trade was a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,657 shares of company stock worth $2,444,311. Company insiders own 0.43% of the company’s stock.

Chewy Stock Down 1.3%

NYSE:CHWY opened at $38.53 on Tuesday. The business’s 50-day moving average price is $38.80 and its 200 day moving average price is $39.05. The firm has a market cap of $15.98 billion, a P/E ratio of 110.08, a PEG ratio of 9.76 and a beta of 1.62. Chewy has a 52-week low of $26.28 and a 52-week high of $48.62.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, September 10th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.19). The business had revenue of $3.10 billion for 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 for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 earnings per share. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. Sell-side analysts expect that Chewy will post 0.24 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on CHWY shares. Robert W. Baird lowered their target price on shares of Chewy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. Seaport Res Ptn upgraded Chewy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 10th. Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and increased their price target for the company from $44.00 to $50.00 in a report on Monday, September 8th. TD Cowen reduced their target price on Chewy from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Finally, UBS Group decreased their price target on shares of Chewy from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.84.

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.