Margaret Caroline Llewelyn Davies (16 October 1861 – 28 May 1944) was a British social activist who served as general secretary of the Co-operative Women's Guild from 1889 until 1921.

Her election has been described as a "turning point" in the organization's history, increasing its political activity and beginning an era of unprecedented growth and success.

Her father was the vicar of Christ Church in Marylebone, as well as a fellow of Trinity College and an outspoken foe of poverty and inequality, active in Christian socialist groups, and was also involved in the early co-operative movement.

[7] Olive Banks wrote in her 1985 Biographical dictionary of British feminists that "it was soon obvious ... that Margaret had found more than a co-worker, for Lilian was to be her life-long friend and companion.

Under the Co-operative system, no individuals can make fortunes, Co-operators evidently believing, like the old writer, that "money is like muck, no good unless it is spread."

During Davies' term as general secretary, she oversaw an emphasis on achieving the fourth of the Guild's stated aims, "to improve the conditions of women all over the country.

"[4]: 29  She encouraged the Guild's promotion of social reforms, including for women's suffrage, whilst activities like sewing classes were relegated by the organisation.

[3][7] In 1912 the Guild adopted a policy, supported by its annual congress, that a married couple should be allowed to divorce after a separation period of two years.

Davies stood by the policy as agreed by the congress, and the Guild's work was funded from branches until the restoration of the grant four years later.

In 1931, she was the editor of Life as we have Known it, a collection of Guild members' reflections, which included an introduction by Davies' friend Virginia Woolf.

[7] Neither Davies or Harris had been paid for their work for the Guild, which helped the organisation to remain financially stable even during the period when funding from the central board was suspended.

[3] In a 2017 book review in The Times Literary Supplement, June Purvis wrote that Davies had been "largely forgotten ... it is good to be reminded that under her leadership the Women's Co-operative Guild campaigned not just for a living wage, equal divorce laws and improvements in welfare, but also for universal suffrage.