Brighton Jones LLC Takes Position in Chewy, Inc. (NYSE:CHWY)

Brighton Jones LLC acquired a new stake in Chewy, Inc. (NYSE:CHWY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,160 shares of the company’s stock, valued at approximately $304,000.

Other large investors have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new position in Chewy in the second quarter valued at approximately $33,000. Industrial Alliance Investment Management Inc. acquired a new position in Chewy in the second quarter valued at approximately $44,000. First Horizon Advisors Inc. acquired a new position in Chewy in the second quarter valued at approximately $48,000. Skylands Capital LLC acquired a new position in Chewy in the second quarter valued at approximately $52,000. Finally, Quest Partners LLC acquired a new position in Chewy in the fourth quarter valued at approximately $65,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Price Performance

NYSE:CHWY opened at $29.75 on Monday. The firm has a market capitalization of $12.94 billion, a PE ratio of 165.28, a price-to-earnings-growth ratio of 3.02 and a beta of 1.04. The business’s fifty day moving average price is $26.61 and its 200 day moving average price is $21.90. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. As a group, equities analysts anticipate that Chewy, Inc. will post 0.32 EPS for the current year.

Wall Street Analyst Weigh In

CHWY has been the topic of a number of research reports. Bank of America upped their price target on Chewy from $20.00 to $24.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Wolfe Research initiated coverage on Chewy in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Mizuho upped their price target on Chewy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, June 10th. Guggenheim upped their price target on Chewy from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Robert W. Baird upped their price target on Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.11.

Insiders Place Their Bets

In other Chewy news, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the transaction, the chief executive officer now owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total transaction of $40,576,103.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the sale, the chief executive officer now owns 1,398,271 shares of the company’s stock, valued at approximately $31,097,547.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,906,141 shares of company stock valued at $540,973,233. 2.10% of the stock is currently owned by insiders.

Chewy Company 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.