Picton Mahoney Asset Management Cuts Stake in Chewy $CHWY

Picton Mahoney Asset Management lessened its holdings in Chewy (NYSE:CHWY) by 29.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 396,555 shares of the company’s stock after selling 169,037 shares during the quarter. Picton Mahoney Asset Management owned 0.10% of Chewy worth $16,041,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in shares of Chewy by 231.1% in the second quarter. AQR Capital Management LLC now owns 4,631,343 shares of the company’s stock worth $196,323,000 after buying an additional 3,232,763 shares during the period. State Street Corp increased its stake in Chewy by 75.5% in the 2nd quarter. State Street Corp now owns 6,170,197 shares of the company’s stock worth $262,974,000 after purchasing an additional 2,654,496 shares during the period. Champlain Investment Partners LLC bought a new stake in Chewy in the third quarter valued at approximately $89,022,000. Geode Capital Management LLC boosted its stake in shares of Chewy by 88.1% during the second quarter. Geode Capital Management LLC now owns 4,076,911 shares of the company’s stock valued at $174,097,000 after purchasing an additional 1,909,457 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Chewy by 34.7% during the second quarter. Invesco Ltd. now owns 7,187,518 shares of the company’s stock valued at $306,332,000 after purchasing an additional 1,852,531 shares during the period. 93.09% of the stock is owned by institutional investors.

Chewy News Roundup

Here are the key news stories impacting Chewy this week:

• Positive Sentiment: New CFO appointed from inside the company (adds continuity to finance leadership and may smooth execution of margin/cash?flow plans). Chewy (CHWY) Appoints Internal Veteran Chris Deppe as New Chief Financial Officer
• Positive Sentiment: Autoship program is a core driver of margin and cash?flow improvement, and management is targeting a meaningful adjusted EBITDA expansion — a structural path to higher profitability that supports valuation upside. Can Chewy Hit 10% EBITDA Margin? Autoship Holds the Key
• Neutral Sentiment: Analysts debate long?term upside (some bullish scenarios point to strong recovery, but $100/share is viewed as a stretch given current dynamics). Is Chewy Stock Going to $100?
• Neutral Sentiment: Company will report fiscal Q4 and full?year 2025 results on March 25 and host a conference call — an event that typically raises short?term volatility as investors reset expectations. Chewy Announces Fiscal Fourth Quarter and Full Year 2025 Financial Results Conference Call
• Neutral Sentiment: Management presented at the Morgan Stanley TMT conference — useful for investor color but transcript alone unlikely to move the stock absent new guidance or surprises. Chewy, Inc. (CHWY) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript
• Neutral Sentiment: Consumer product features (e.g., novelty cat condos and budget faux?fur trees) underscore ongoing customer engagement and merchandising activity but are unlikely to move shares materially. Chewy Is Selling a Precious $41 Cat Condo Shaped Like a Unicorn and It’s So Unique Chewy Is Selling the Cutest Faux Fur Cat Tree for Just $25 and It Comes in 3 Colors
• Negative Sentiment: Valuation and demand risks remain: despite a low sales multiple and improving EBITDA, Q4 investments and softer near?term demand could pressure results and investor patience. That concern helps explain selling pressure and higher trading volume. Is Chewy Stock a Hidden Value as EBITDA Expands?

Analyst Upgrades and Downgrades

CHWY has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Chewy from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Raymond James Financial raised shares of Chewy from a “market perform” rating to an “outperform” rating and set a $28.00 price objective for the company in a research note on Thursday, February 19th. Wolfe Research set a $44.00 target price on shares of Chewy in a report on Monday, January 5th. TD Cowen reissued a “buy” rating on shares of Chewy in a research note on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chewy in a research report on Wednesday, January 21st. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.25.

Chewy Price Performance

Shares of NYSE CHWY opened at $26.83 on Wednesday. Chewy has a 1 year low of $23.06 and a 1 year high of $48.62. The stock has a market capitalization of $11.13 billion, a P/E ratio of 55.90, a P/E/G ratio of 1.82 and a beta of 1.60. The company’s 50-day moving average is $29.61 and its 200 day moving average is $34.05.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, December 10th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Chewy had a return on equity of 56.78% and a net margin of 1.64%.The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS. Chewy has set its Q4 2025 guidance at 0.240-0.270 EPS. Research analysts anticipate that Chewy will post 0.24 earnings per share for the current year.

Insider Buying and Selling at Chewy

In related news, CTO Satish Mehta sold 13,013 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $28.99, for a total value of $377,246.87. Following the sale, the chief technology officer directly owned 273,835 shares of the company’s stock, valued at $7,938,476.65. This represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.43% of the stock is owned by corporate insiders.

Chewy Profile

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.