Washington Trust Advisors Inc. Buys 923 Shares of Chewy, Inc. (NYSE:CHWY)

Washington Trust Advisors Inc. lifted its holdings in Chewy, Inc. (NYSE:CHWY) by 0.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 278,452 shares of the company’s stock after buying an additional 923 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Chewy were worth $8,156,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CHWY. BC Partners Advisors L.P. acquired a new stake in Chewy in the second quarter worth about $7,517,800,000. Vanguard Group Inc. lifted its stake in Chewy by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 10,480,230 shares of the company’s stock valued at $166,740,000 after acquiring an additional 875,532 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Chewy by 7.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,553,104 shares of the company’s stock valued at $96,787,000 after acquiring an additional 258,502 shares in the last quarter. Marshall Wace LLP lifted its stake in Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after acquiring an additional 2,636,526 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Chewy by 8.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,521,755 shares of the company’s stock valued at $68,693,000 after acquiring an additional 200,900 shares in the last quarter. 93.09% of the stock is owned by institutional investors.

Chewy Trading Down 0.5 %

Shares of CHWY stock opened at $30.65 on Friday. The business’s 50-day moving average price is $28.92 and its 200-day moving average price is $24.75. 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 $12.82 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 2.88 and a beta of 1.06.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CHWY. Barclays upped their price objective on Chewy from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Morgan Stanley upped their price objective on Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. boosted their target price on Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Finally, Evercore ISI upped their price objective on Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.15.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 can be accessed through this link. 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.