Planning Capital Management Corp Makes New Investment in Chewy, Inc. (NYSE:CHWY)

Planning Capital Management Corp purchased a new stake in shares of Chewy, Inc. (NYSE:CHWY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,785 shares of the company’s stock, valued at approximately $52,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new stake in Chewy during the 2nd quarter valued at $33,000. Blue Trust Inc. lifted its holdings in Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Chewy in the 2nd quarter worth about $44,000. First Horizon Advisors Inc. bought a new position in Chewy in the 2nd quarter worth about $48,000. Finally, Skylands Capital LLC purchased a new position in Chewy during the 2nd quarter valued at about $52,000. Institutional investors own 93.09% of the company’s stock.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’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 filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

CHWY has been the subject of a number of analyst reports. Evercore ISI raised their price objective on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Robert W. Baird raised their price target on shares of Chewy from $26.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Barclays upped their price target on shares of Chewy from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. TD Cowen began coverage on Chewy in a research note on Wednesday, October 9th. They set a “buy” rating and a $38.00 price objective for the company. Finally, Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $28.00 to $40.00 in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.15.

Chewy Trading Down 1.0 %

NYSE CHWY opened at $32.40 on Friday. The stock has a 50-day moving average of $29.23 and a 200-day moving average of $25.18. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10. The firm has a market cap of $13.55 billion, a PE ratio of 39.51, a price-to-earnings-growth ratio of 3.29 and a beta of 1.06.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share 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 during the quarter, compared to analyst estimates of $2.86 billion. As a group, equities research analysts forecast that Chewy, Inc. will post 0.32 earnings per share for the current fiscal year.

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.