Assenagon Asset Management S.A. Reduces Stock Holdings in Chewy $CHWY

Assenagon Asset Management S.A. reduced its position in shares of Chewy (NYSE:CHWY) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,035,364 shares of the company’s stock after selling 44,833 shares during the quarter. Assenagon Asset Management S.A. owned 0.49% of Chewy worth $54,955,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CHWY. Vanguard Group Inc. grew its position in Chewy by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 19,920,347 shares of the company’s stock valued at $658,367,000 after buying an additional 1,017,214 shares during the period. Wellington Management Group LLP boosted its stake in shares of Chewy by 295.9% during the 3rd quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock worth $712,841,000 after acquiring an additional 13,171,325 shares during the last quarter. Viking Global Investors LP boosted 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 worth $447,386,000 after acquiring an additional 8,052,955 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Chewy by 10.0% during the 4th quarter. AQR Capital Management LLC now owns 11,218,840 shares of the company’s stock valued at $370,558,000 after acquiring an additional 1,022,694 shares during the period. Finally, Morgan Stanley grew its position in shares of Chewy by 33.8% during the 4th quarter. Morgan Stanley now owns 7,660,258 shares of the company’s stock valued at $253,172,000 after acquiring an additional 1,937,014 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Insider Activity

In other news, CEO Sumit Singh sold 83,306 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $25.60, for a total value of $2,132,633.60. Following the completion of the transaction, the chief executive officer owned 874,061 shares of the company’s stock, valued at $22,375,961.60. This represents a 8.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Da-Wai Hu sold 8,149 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $26.91, for a total value of $219,289.59. The SEC filing for this sale provides additional information. Insiders sold 95,675 shares of company stock worth $2,459,955 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Chewy Price Performance

Shares of CHWY stock opened at $18.13 on Friday. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 0.96 and a beta of 1.44. Chewy has a one year low of $17.40 and a one year high of $43.84. The company’s fifty day moving average price is $22.08 and its 200-day moving average price is $26.43.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, June 10th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.19. Chewy had a net margin of 1.99% and a return on equity of 60.02%. The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the previous year, the company earned $0.35 EPS. Chewy’s revenue for the quarter was up 9.7% on a year-over-year basis. Chewy has set its Q2 2026 guidance at 0.360-0.360 EPS. Equities research analysts expect that Chewy will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Chewy from $35.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, June 11th. Piper Sandler set a $30.00 price target on Chewy in a report on Wednesday, June 10th. TD Cowen restated a “buy” rating on shares of Chewy in a research report on Tuesday. Barclays decreased their price objective on Chewy from $40.00 to $36.00 and set an “overweight” rating on the stock in a research note on Thursday, June 11th. Finally, Argus raised Chewy to a “strong-buy” rating in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.05.

About Chewy

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.