DAVENPORT & Co LLC Trims Stock Holdings in Chewy, Inc. (NYSE:CHWY)

DAVENPORT & Co LLC cut its holdings in shares of Chewy, Inc. (NYSE:CHWY) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,381 shares of the company’s stock after selling 5,886 shares during the period. DAVENPORT & Co LLC’s holdings in Chewy were worth $1,788,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Chewy by 1.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock valued at $661,000 after acquiring an additional 301 shares in the last quarter. Blue Trust Inc. lifted its position in Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares during the period. Fifth Third Bancorp boosted its holdings in Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after purchasing an additional 444 shares in the last quarter. Washington Trust Advisors Inc. increased its position in Chewy by 0.3% during the 3rd quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock worth $8,156,000 after purchasing an additional 923 shares during the period. Finally, D.A. Davidson & CO. raised its stake in shares of Chewy by 5.0% during the 3rd quarter. D.A. Davidson & CO. now owns 26,219 shares of the company’s stock worth $768,000 after buying an additional 1,244 shares in the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CHWY has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $24.00 to $42.00 in a research report on Monday, January 6th. Wedbush reiterated an “outperform” rating and issued a $39.00 price target (up previously from $35.00) on shares of Chewy in a report on Thursday, December 5th. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Finally, Wolfe Research raised shares of Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Chewy Stock Down 0.4 %

CHWY opened at $38.45 on Thursday. The firm has a market cap of $15.66 billion, a P/E ratio of 42.25, a PEG ratio of 4.36 and a beta of 1.10. The business’s fifty day simple moving average is $35.15 and its 200 day simple moving average is $30.73. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $40.09.

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

Insider Buying and Selling

In related news, CEO Sumit Singh sold 9,285 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $40.00, for a total value of $371,400.00. Following the completion of the sale, the chief executive officer now directly owns 489,750 shares in the company, valued at approximately $19,590,000. The trade was a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Satish Mehta sold 8,056 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total transaction of $269,634.32. Following the transaction, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at $19,612,148.14. This trade represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,196,437 shares of company stock worth $920,170,901. 2.10% of the stock is owned by insiders.

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.