Vontobel Holding Ltd. Grows Holdings in Chewy, Inc. (NYSE:CHWY)

Vontobel Holding Ltd. lifted its holdings in Chewy, Inc. (NYSE:CHWY) by 33.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,513 shares of the company’s stock after purchasing an additional 6,172 shares during the period. Vontobel Holding Ltd.’s holdings in Chewy were worth $718,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. 1620 Investment Advisors Inc. acquired a new position in Chewy during the 2nd quarter worth approximately $33,000. Industrial Alliance Investment Management Inc. purchased a new position in Chewy during the 2nd quarter worth $44,000. First Horizon Advisors Inc. purchased a new position in Chewy during the 2nd quarter worth $48,000. Skylands Capital LLC purchased a new position in Chewy during the 2nd quarter worth $52,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Chewy during the 3rd quarter worth $62,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Price Performance

CHWY opened at $29.05 on Monday. The business has a fifty day simple moving average of $28.49 and a 200 day simple moving average of $23.68. The company has a market capitalization of $12.63 billion, a PE ratio of 161.39, a price-to-earnings-growth ratio of 3.04 and a beta of 1.05. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. Equities analysts anticipate that Chewy, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CTO Satish Mehta sold 2,894 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $64,362.56. Following the completion of the transaction, the chief technology officer now directly owns 573,463 shares of the company’s stock, valued at $12,753,817.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of Chewy 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 28,138,627 shares of company stock valued at $827,147,620. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CHWY shares. Wolfe Research initiated coverage on shares of Chewy in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Evercore ISI raised their price target 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. Royal Bank of Canada raised their price target on shares of Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price target on shares of Chewy in a research note on Friday, September 20th. Finally, Bank of America raised their price target on shares of Chewy from $20.00 to $24.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and an average target price of $29.55.

About Chewy

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.