National Bank of Canada FI Sells 621 Shares of Chewy, Inc. (NYSE:CHWY)

National Bank of Canada FI reduced its stake in Chewy, Inc. (NYSE:CHWY) by 9.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,061 shares of the company’s stock after selling 621 shares during the period. National Bank of Canada FI’s holdings in Chewy were worth $178,000 at the end of the most recent reporting period.

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

Chewy Stock Performance

NYSE:CHWY opened at $33.54 on Tuesday. The firm’s fifty day moving average is $30.84 and its two-hundred day moving average is $27.90. The firm has a market cap of $14.02 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 4.28 and a beta of 1.12. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $24.00 to $40.00 in a research note on Wednesday, November 20th. Evercore ISI increased their price target 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 lifted their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. TD Cowen started coverage on shares of Chewy in a research report on Wednesday, October 9th. They set a “buy” rating and a $38.00 target price for the company. Finally, BNP Paribas lowered shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.60.

Insider Transactions at Chewy

In related news, CTO Satish Mehta sold 8,056 shares of Chewy stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the transaction, the chief technology officer now owns 585,962 shares in the company, valued at $19,612,148.14. The trade was a 1.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. Insiders have sold 47,956,046 shares of company stock valued at $1,448,008,845 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

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.