64,773 Shares in Chewy, Inc. (NYSE:CHWY) Acquired by Trust Investment Advisors

Trust Investment Advisors acquired a new stake in shares of Chewy, Inc. (NYSE:CHWY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 64,773 shares of the company’s stock, valued at approximately $1,764,000. Chewy accounts for approximately 1.1% of Trust Investment Advisors’ investment portfolio, making the stock its 21st largest holding.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Chewy by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 667,247 shares of the company’s stock worth $15,767,000 after purchasing an additional 39,301 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in Chewy in the 4th quarter valued at approximately $339,000. Russell Investments Group Ltd. raised its holdings in Chewy by 27.7% during the 1st quarter. Russell Investments Group Ltd. now owns 86,542 shares of the company’s stock valued at $1,355,000 after acquiring an additional 18,768 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Chewy by 127.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock worth $27,328,000 after acquiring an additional 963,540 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in shares of Chewy in the first quarter worth $334,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Price Performance

NYSE:CHWY opened at $31.11 on Friday. The company has a market capitalization of $13.53 billion, a price-to-earnings ratio of 172.83, a PEG ratio of 3.02 and a beta of 1.04. The business has a 50 day moving average of $26.54 and a 200 day moving average of $21.76. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10.

Insiders Place Their Bets

In other news, CTO Satish Mehta sold 2,894 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $64,362.56. Following the completion of the sale, the chief technology officer now owns 573,463 shares of the company’s stock, valued at approximately $12,753,817.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Chewy news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of Chewy stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $28.49, for a total value of $499,999,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Satish Mehta sold 2,894 shares of the business’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 $64,362.56. Following the completion of the sale, the chief technology officer now owns 573,463 shares of the company’s stock, valued at approximately $12,753,817.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,906,141 shares of company stock valued at $540,973,233. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Bank of America boosted their price objective on Chewy from $20.00 to $24.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Barclays upped their price target on Chewy from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Piper Sandler initiated coverage on shares of Chewy in a research report on Friday, August 23rd. They issued an “overweight” rating and a $35.00 price objective for the company. Mizuho upped their target price on shares of Chewy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, June 10th. Finally, Evercore ISI increased their target price on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and an average target price of $29.11.

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.