MML Investors Services LLC Has $702,000 Holdings in Chewy, Inc. (NYSE:CHWY)

MML Investors Services LLC trimmed its position in shares of Chewy, Inc. (NYSE:CHWY) by 12.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,981 shares of the company’s stock after selling 3,442 shares during the period. MML Investors Services LLC’s holdings in Chewy were worth $702,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased 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 worth $38,000 after purchasing an additional 905 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Chewy in the second quarter valued at approximately $44,000. Skylands Capital LLC bought a new position in shares of Chewy during the 2nd quarter worth approximately $52,000. Planning Capital Management Corp acquired a new position in shares of Chewy during the 3rd quarter worth approximately $52,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Chewy in the 3rd quarter valued at $62,000. 93.09% of the stock is owned by institutional investors.

Chewy Stock Performance

Shares of CHWY stock opened at $33.72 on Friday. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $39.10. The stock’s fifty day moving average price is $31.10 and its two-hundred day moving average price is $28.17. The company has a market cap of $13.77 billion, a PE ratio of 37.05, a P/E/G ratio of 4.28 and a beta of 1.12.

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

Insider Activity

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $29.40, for a total value of $789,999,991.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Satish Mehta sold 8,056 shares of the business’s 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 sale, the chief technology officer now owns 585,962 shares in the company, valued at approximately $19,612,148.14. This trade represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,956,046 shares of company stock worth $1,448,008,845. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

CHWY has been the topic of several research reports. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and upped their price objective for the company from $24.00 to $40.00 in a report on Wednesday, November 20th. Evercore ISI upped their price target on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Royal Bank of Canada raised their price objective on shares of Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. UBS Group upped their target price on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.60.

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.