Meridian Wealth Management LLC Purchases Shares of 5,402 Chewy $CHWY

Meridian Wealth Management LLC acquired a new stake in shares of Chewy (NYSE:CHWY) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 5,402 shares of the company’s stock, valued at approximately $230,000.

A number of other institutional investors have also recently made changes to their positions in CHWY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Chewy by 42.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,387 shares of the company’s stock worth $2,403,000 after purchasing an additional 16,790 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in Chewy in the 2nd quarter worth approximately $1,271,000. Geode Capital Management LLC increased its stake in Chewy by 88.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,076,911 shares of the company’s stock worth $174,097,000 after acquiring an additional 1,909,457 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Chewy by 47.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,419 shares of the company’s stock worth $529,000 after acquiring an additional 3,977 shares in the last quarter. Finally, Wealth Alliance LLC bought a new position in shares of Chewy during the 2nd quarter valued at approximately $217,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Trading Down 0.4%

CHWY stock opened at $34.54 on Wednesday. Chewy has a 12 month low of $29.83 and a 12 month high of $48.62. The company has a 50-day moving average price of $36.42 and a 200 day moving average price of $39.16. The stock has a market cap of $14.33 billion, a PE ratio of 98.69, a P/E/G ratio of 8.57 and a beta of 1.67.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, September 10th. The company reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. The company 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 posted $0.24 EPS. Chewy has set its FY 2025 guidance at EPS. Q3 2025 guidance at 0.280-0.330 EPS. Sell-side analysts forecast that Chewy will post 0.24 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on CHWY shares. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a report on Thursday, September 11th. Wall Street Zen cut shares of Chewy from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Citigroup decreased their target price on shares of Chewy from $49.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. JMP Securities reiterated a “market outperform” rating and issued a $48.00 price target on shares of Chewy in a research report on Thursday, September 11th. Finally, Morgan Stanley reduced their price objective on Chewy from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and an average price target of $45.84.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 2,289 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $32.72, for a total value of $74,896.08. Following the sale, the chief executive officer owned 75,777 shares in the company, valued at $2,479,423.44. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Satish Mehta sold 4,642 shares of Chewy stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $32.65, for a total value of $151,561.30. Following the sale, the chief technology officer owned 229,702 shares of the company’s stock, valued at approximately $7,499,770.30. This trade represents a 1.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 27,629 shares of company stock valued at $903,696. Insiders own 0.43% of the company’s stock.

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.