Pier 88 Investment Partners LLC Acquires New Shares in Chewy, Inc. (NYSE:CHWY)

Pier 88 Investment Partners LLC bought a new position in shares of Chewy, Inc. (NYSE:CHWY) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,370 shares of the company’s stock, valued at approximately $128,000.

Other institutional investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. bought a new position in Chewy during the 2nd quarter worth approximately $33,000. Blue Trust Inc. grew its stake in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after acquiring an additional 905 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Chewy during the second quarter worth about $44,000. First Horizon Advisors Inc. acquired a new position in shares of Chewy in the 2nd quarter valued at approximately $48,000. Finally, Skylands Capital LLC acquired a new stake in Chewy during the 2nd quarter worth approximately $52,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Trading Down 0.7 %

Chewy stock opened at $32.74 on Thursday. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 39.87, a PEG ratio of 3.29 and a beta of 1.06. The stock’s 50 day moving average is $29.12 and its 200-day moving average is $25.13. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings data 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 firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. As a group, equities research analysts predict that Chewy, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Transactions at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 accessible through this link. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CHWY. Evercore ISI upped their price target on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Barclays upped their price objective on Chewy from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Robert W. Baird upped their price target on Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Finally, 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 report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.15.

Chewy 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.