Commonwealth Equity Services LLC Increases Stake in Chewy, Inc. (NYSE:CHWY)

Commonwealth Equity Services LLC increased its holdings in shares of Chewy, Inc. (NYSE:CHWY) by 20.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,704 shares of the company’s stock after buying an additional 8,228 shares during the period. Commonwealth Equity Services LLC’s holdings in Chewy were worth $1,327,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHWY. Baillie Gifford & Co. grew its holdings in Chewy by 7.2% during the 1st quarter. Baillie Gifford & Co. now owns 19,819,195 shares of the company’s stock worth $315,323,000 after acquiring an additional 1,336,431 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Chewy by 13.5% in the 4th quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock valued at $226,959,000 after buying an additional 1,140,269 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Chewy by 127.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock worth $27,328,000 after purchasing an additional 963,540 shares during the period. Principal Financial Group Inc. acquired a new stake in Chewy during the 2nd quarter worth $14,380,000. Finally, Trexquant Investment LP boosted its stake in Chewy by 282.9% during the 4th quarter. Trexquant Investment LP now owns 675,032 shares of the company’s stock worth $15,951,000 after purchasing an additional 498,753 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CHWY. UBS Group upped their price objective on shares of Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Argus downgraded shares of Chewy from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Evercore ISI increased their price target on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Needham & Company LLC increased their price target on shares of Chewy from $25.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Finally, Bank of America increased their price target on shares of Chewy from $20.00 to $24.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Chewy currently has an average rating of “Moderate Buy” and a consensus target price of $29.11.

Insider Buying and Selling

In related news, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $318,877.12. Following the sale, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $318,877.12. Following the transaction, the chief executive officer now owns 1,398,271 shares in the company, valued at $31,097,547.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $30.32, for a total transaction of $40,576,103.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,906,141 shares of company stock valued at $540,973,233. Insiders own 2.10% of the company’s stock.

Chewy Price Performance

Chewy stock opened at $31.98 on Monday. The firm’s 50-day moving average is $26.04 and its two-hundred day moving average is $21.42. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $39.10. The stock has a market capitalization of $13.91 billion, a P/E ratio of 177.67, a P/E/G ratio of 3.02 and a beta of 1.04.

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.