Washington Trust Advisors Inc. Lowers Stock Position in Chewy, Inc. (NYSE:CHWY)

Washington Trust Advisors Inc. cut its stake in shares of Chewy, Inc. (NYSE:CHWY) by 1.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 274,960 shares of the company’s stock after selling 3,492 shares during the period. Washington Trust Advisors Inc. owned 0.07% of Chewy worth $9,208,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in shares of Chewy by 9.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company’s stock valued at $150,345,000 after buying an additional 399,330 shares during the period. FMR LLC grew its stake in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after buying an additional 2,497,689 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in shares of Chewy by 5.3% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock valued at $81,014,000 after buying an additional 138,768 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Chewy during the 4th quarter valued at $69,789,000. Finally, Eagle Asset Management Inc. grew its stake in shares of Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after buying an additional 975,647 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Stock Performance

Shares of Chewy stock opened at $36.86 on Thursday. The firm has a market cap of $15.01 billion, a PE ratio of 40.50, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. The firm’s 50-day simple moving average is $36.75 and its 200-day simple moving average is $32.52. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $40.09.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) EPS. On average, equities analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current year.

Insider Activity

In related news, CEO Sumit Singh sold 71,161 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $35.00, for a total transaction of $2,490,635.00. Following the completion of the sale, the chief executive officer now owns 6,677 shares of the company’s stock, valued at $233,695. This represents a 91.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $31.32, for a total transaction of $620,989,219.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,553,371 shares of company stock worth $933,605,214. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on CHWY shares. JPMorgan Chase & Co. upped their price target on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and upped their price target for the stock from $24.00 to $40.00 in a research report on Wednesday, November 20th. Evercore ISI raised shares of Chewy from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $34.00 to $47.00 in a research report on Monday, January 13th. Mizuho raised shares of Chewy from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $24.00 to $42.00 in a research report on Monday, January 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chewy presently has an average rating of “Moderate Buy” and a consensus price target of $37.30.

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.