Private Advisor Group LLC Cuts Stock Holdings in Chewy, Inc. (NYSE:CHWY)

Private Advisor Group LLC lessened its holdings in Chewy, Inc. (NYSE:CHWY) by 15.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,462 shares of the company’s stock after selling 2,613 shares during the period. Private Advisor Group LLC’s holdings in Chewy were worth $424,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CHWY. BC Partners Advisors L.P. acquired a new position in Chewy during the 2nd quarter worth $7,517,800,000. Marshall Wace LLP lifted its position in shares of Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after buying an additional 2,636,526 shares during the last quarter. Fiera Capital Corp bought a new position in shares of Chewy in the 2nd quarter worth about $44,373,000. Clearbridge Investments LLC bought a new position in shares of Chewy in the 2nd quarter worth about $40,798,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Chewy by 127.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock worth $27,328,000 after buying an additional 963,540 shares during the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction that occurred 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 filing with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CHWY has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. TD Cowen initiated coverage on shares of Chewy in a research report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research report on Wednesday, October 23rd. Argus downgraded shares of Chewy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Finally, Bank of America boosted their price target on shares of Chewy from $20.00 to $24.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.55.

Chewy Price Performance

Shares of CHWY opened at $29.20 on Wednesday. The firm’s 50 day moving average is $28.82 and its 200-day moving average is $24.56. The stock 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, Inc. has a 12-month low of $14.69 and a 12-month high of $39.10.

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

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.