Bradley Foster & Sargent Inc. CT Makes New Investment in Chewy, Inc. (NYSE:CHWY)

Bradley Foster & Sargent Inc. CT purchased a new position in shares of Chewy, Inc. (NYSE:CHWY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,049 shares of the company’s stock, valued at approximately $355,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CHWY. Fiera Capital Corp bought a new stake in Chewy in the 2nd quarter valued at approximately $44,373,000. Baillie Gifford & Co. grew its position in shares of Chewy by 7.2% during the 1st quarter. Baillie Gifford & Co. now owns 19,819,195 shares of the company’s stock worth $315,323,000 after purchasing an additional 1,336,431 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Chewy by 13.5% in the fourth quarter. Vanguard Group Inc. now owns 9,604,698 shares of the company’s stock worth $226,959,000 after purchasing an additional 1,140,269 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Chewy by 127.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock valued at $27,328,000 after buying an additional 963,540 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in Chewy during the second quarter valued at approximately $14,380,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $30.32, for a total transaction of $40,576,103.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chewy news, CTO Satish Mehta sold 2,894 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $64,362.56. Following the sale, the chief technology officer now directly owns 573,463 shares in the company, valued at approximately $12,753,817.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $30.32, for a total value of $40,576,103.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,906,141 shares of company stock worth $540,973,233. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CHWY. Royal Bank of Canada increased their price objective on shares of Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Wedbush reissued an “outperform” rating and issued a $35.00 price objective on shares of Chewy in a research report on Thursday, August 29th. Wolfe Research began coverage on shares of Chewy in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on Chewy from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Finally, Morgan Stanley boosted their target price on shares of Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and an average price target of $29.11.

Chewy Price Performance

NYSE:CHWY opened at $31.11 on Friday. The firm has a market capitalization of $13.53 billion, a P/E ratio of 172.83, a PEG ratio of 3.02 and a beta of 1.04. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10. The company’s 50-day simple moving average is $26.54 and its 200 day simple moving average is $21.76.

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.