Chewy, Inc. (NYSE:CHWY) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its holdings in Chewy, Inc. (NYSE:CHWY) by 39.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,559 shares of the company’s stock after selling 6,112 shares during the period. Van ECK Associates Corp’s holdings in Chewy were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CHWY. 1620 Investment Advisors Inc. purchased a new position in Chewy during the second quarter worth about $33,000. Blue Trust Inc. raised its position 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 purchasing an additional 905 shares during the period. Industrial Alliance Investment Management Inc. acquired a new position in Chewy during the second quarter worth $44,000. First Horizon Advisors Inc. purchased a new position in shares of Chewy during the second quarter worth $48,000. Finally, Skylands Capital LLC purchased a new position in shares of Chewy during the second quarter worth $52,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CHWY. Robert W. Baird increased their target price on Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Morgan Stanley increased their price target on shares of Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Piper Sandler restated an “overweight” rating and issued a $35.00 price objective on shares of Chewy in a report on Friday, September 20th. UBS Group increased their target price on shares of Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. 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 note on Thursday, August 29th. One research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.15.

Chewy Price Performance

Shares of CHWY opened at $32.91 on Wednesday. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10. The stock has a market cap of $13.76 billion, a PE ratio of 40.88, a price-to-earnings-growth ratio of 3.06 and a beta of 1.06. The firm has a fifty day moving average price of $29.02 and a 200 day moving average price of $25.01.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $2.86 billion during 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 analysts expect that Chewy, Inc. will post 0.32 EPS for the current fiscal year.

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.