Castleview Partners LLC Acquires New Shares in Chewy, Inc. (NYSE:CHWY)

Castleview Partners LLC bought a new stake in shares of Chewy, Inc. (NYSE:CHWY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,581 shares of the company’s stock, valued at approximately $76,000.

Other institutional investors have also recently made changes to their positions in the company. 1620 Investment Advisors Inc. purchased a new stake in Chewy in the second quarter worth approximately $33,000. Blue Trust Inc. grew its stake in shares of Chewy by 183.6% during the 3rd 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. purchased a new stake in shares of Chewy during the 2nd quarter valued at about $44,000. First Horizon Advisors Inc. bought a new position in shares of Chewy in the 2nd quarter worth approximately $48,000. Finally, Skylands Capital LLC purchased a new position in shares of Chewy in the second quarter worth approximately $52,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Stock Down 4.8 %

Shares of Chewy stock opened at $27.67 on Tuesday. The firm has a market cap of $12.03 billion, a price-to-earnings ratio of 153.72, a PEG ratio of 3.04 and a beta of 1.05. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10. The business has a 50-day moving average price of $28.57 and a 200-day moving average price of $23.76.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. On average, equities analysts expect that Chewy, Inc. will post 0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CHWY. UBS Group upped their target price on shares of Chewy from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Evercore ISI upped their price objective on Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Robert W. Baird lifted their target price on Chewy from $26.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Guggenheim upped their price target on Chewy from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price objective on shares of Chewy in a research report on Friday, September 20th. One equities 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.55.

Insider Buying and Selling

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $318,877.12. Following the sale, the chief executive officer now owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,138,627 shares of company stock worth $827,147,620. Insiders own 2.10% of the company’s stock.

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.