Raymond James & Associates Reduces Stake in Chewy, Inc. (NYSE:CHWY)

Raymond James & Associates lowered its stake in Chewy, Inc. (NYSE:CHWY) by 5.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,480 shares of the company’s stock after selling 5,407 shares during the period. Raymond James & Associates’ holdings in Chewy were worth $2,679,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new stake in Chewy in the second quarter worth about $33,000. Blue Trust Inc. lifted its stake in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in Chewy in the second quarter worth about $44,000. First Horizon Advisors Inc. bought a new stake in Chewy in the second quarter worth about $48,000. Finally, Skylands Capital LLC bought a new stake in Chewy in the second quarter worth about $52,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research note on Wednesday, October 23rd. Argus downgraded shares of Chewy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Citigroup lifted their price target on shares of Chewy from $16.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Royal Bank of Canada lifted their price target on shares of Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Robert W. Baird lifted their price target on shares of Chewy from $26.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.55.

Chewy Trading Up 1.2 %

NYSE CHWY opened at $29.20 on Wednesday. The firm’s fifty day simple moving average is $28.82 and its two-hundred day simple moving average is $24.56. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $39.10. The firm has a market capitalization of $12.21 billion, a P/E ratio of 35.61, a P/E/G ratio of 2.71 and a beta of 1.06.

Chewy (NYSE:CHWY) last released its quarterly earnings results 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. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. As a group, sell-side analysts predict that Chewy, Inc. will post 0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.10% of the company’s stock.

About Chewy

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.