Janney Montgomery Scott LLC Acquires 28,337 Shares of Chewy, Inc. (NYSE:CHWY)

Janney Montgomery Scott LLC increased its holdings in shares of Chewy, Inc. (NYSE:CHWY) by 281.7% in the third quarter, HoldingsChannel reports. The firm owned 38,398 shares of the company’s stock after buying an additional 28,337 shares during the period. Janney Montgomery Scott LLC’s holdings in Chewy were worth $1,125,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new position in Chewy during the second quarter worth about $33,000. Blue Trust Inc. grew its holdings in Chewy by 183.6% during 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 period. Industrial Alliance Investment Management Inc. bought a new position in Chewy during the second quarter worth about $44,000. First Horizon Advisors Inc. bought a new position in Chewy during the second quarter worth about $48,000. Finally, Skylands Capital LLC bought a new position in Chewy during the second quarter worth about $52,000. Institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays raised their price objective on shares of Chewy from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. UBS Group raised 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. Evercore ISI raised their price objective on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Wedbush restated an “outperform” rating and set a $35.00 price objective on shares of Chewy in a research report on Thursday, August 29th. Finally, TD Cowen assumed coverage on shares of Chewy in a research report on Wednesday, October 9th. They set a “buy” rating and a $38.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.15.

Chewy Price Performance

Shares of CHWY opened at $31.70 on Friday. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10. The company has a market cap of $13.25 billion, a P/E ratio of 39.22, a P/E/G ratio of 3.27 and a beta of 1.06. The firm has a 50 day simple moving average of $29.35 and a two-hundred day simple moving average of $25.23.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. On average, analysts expect that Chewy, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.10% of the stock is currently owned by insiders.

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.