Massachusetts Financial Services Co. MA Has $13.71 Million Stock Position in Chewy, Inc. (NYSE:CHWY)

Massachusetts Financial Services Co. MA reduced its stake in Chewy, Inc. (NYSE:CHWY) by 79.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 503,417 shares of the company’s stock after selling 1,890,157 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.12% of Chewy worth $13,713,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Chewy by 6.3% during 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 during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Chewy during the fourth quarter worth $339,000. Russell Investments Group Ltd. boosted its position in shares of Chewy by 27.7% in the first 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 grew its stake in shares of Chewy by 127.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock valued at $27,328,000 after acquiring an additional 963,540 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in Chewy during the first quarter worth about $334,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on CHWY shares. Barclays boosted their price objective on shares of Chewy from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Wolfe Research initiated coverage on Chewy in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Robert W. Baird raised their price objective on Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Piper Sandler reiterated an “overweight” rating and set a $35.00 target price on shares of Chewy in a research report on Friday. Finally, Bank of America raised their price target on Chewy from $20.00 to $24.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Chewy has a consensus rating of “Moderate Buy” and a consensus target price of $29.11.

Insiders Place Their Bets

In other news, CEO Sumit Singh sold 14,338 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 value of $318,877.12. Following the completion of the transaction, the chief executive officer now directly owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the completion of the transaction, the chief executive officer now owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total transaction of $499,999,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,906,141 shares of company stock valued at $540,973,233. 2.10% of the stock is currently owned by insiders.

Chewy Price Performance

CHWY stock opened at $29.72 on Friday. The stock has a market cap of $12.93 billion, a price-to-earnings ratio of 165.11, a P/E/G ratio of 3.02 and a beta of 1.04. The company has a 50 day simple moving average of $26.61 and a 200 day simple moving average of $21.84. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10.

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.