Trust Investment Advisors Decreases Stock Holdings in Chewy, Inc. (NYSE:CHWY)

Trust Investment Advisors lessened its stake in Chewy, Inc. (NYSE:CHWY) by 13.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,645 shares of the company’s stock after selling 8,435 shares during the quarter. Chewy makes up about 1.2% of Trust Investment Advisors’ portfolio, making the stock its 22nd biggest holding. Trust Investment Advisors’ holdings in Chewy were worth $1,864,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Chewy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock worth $485,093,000 after purchasing an additional 3,493,926 shares during the last quarter. FMR LLC lifted its position in shares of Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after acquiring an additional 2,497,689 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Chewy in the fourth quarter valued at approximately $69,789,000. Wealthfront Advisers LLC acquired a new stake in shares of Chewy in the fourth quarter worth approximately $46,003,000. Finally, Allianz Asset Management GmbH increased its position in shares of Chewy by 134.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,620,809 shares of the company’s stock worth $54,281,000 after purchasing an additional 929,116 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 571,903 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $34.52, for a total transaction of $19,742,091.56. Following the sale, the chief executive officer now owns 898,222 shares in the company, valued at $31,006,623.44. This represents a 38.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David Reeder sold 307,558 shares of Chewy stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $37.48, for a total value of $11,527,273.84. Following the completion of the transaction, the chief financial officer now owns 546,257 shares of the company’s stock, valued at $20,473,712.36. The trade was a 36.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,655,172 shares of company stock valued at $310,353,221 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Chewy Stock Performance

Shares of CHWY opened at $33.60 on Wednesday. The company’s 50-day simple moving average is $36.17 and its 200-day simple moving average is $33.14. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $40.09. The stock has a market capitalization of $13.68 billion, a PE ratio of 36.92, a P/E/G ratio of 2.21 and a beta of 1.23.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CHWY. Morgan Stanley raised their target price on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group boosted their price objective on Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Wedbush restated an “outperform” rating and issued a $39.00 target price on shares of Chewy in a report on Monday, March 17th. Evercore ISI upgraded Chewy from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $34.00 to $47.00 in a report on Monday, January 13th. Finally, UBS Group upped their price objective on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.95.

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.