Chewy, Inc. (NYSE:CHWY) Shares Bought by Cerity Partners LLC

Cerity Partners LLC raised its holdings in shares of Chewy, Inc. (NYSE:CHWY) by 42.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,324 shares of the company’s stock after purchasing an additional 4,559 shares during the period. Cerity Partners LLC’s holdings in Chewy were worth $449,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Blue Trust Inc. grew its position in Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares during the last quarter. Washington Trust Advisors Inc. grew its holdings in shares of Chewy by 0.3% during the third quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock valued at $8,156,000 after buying an additional 923 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Chewy by 10.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock valued at $308,000 after acquiring an additional 1,029 shares during the period. 1620 Investment Advisors Inc. purchased a new position in Chewy in the 2nd quarter worth $33,000. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in Chewy during the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Stock Performance

Shares of NYSE CHWY opened at $31.58 on Monday. The firm has a market cap of $13.20 billion, a PE ratio of 34.70, a PEG ratio of 3.14 and a beta of 1.12. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10. The firm has a fifty day moving average of $30.46 and a 200 day moving average of $27.32.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 20.86% and a net margin of 3.51%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter last year, the business posted ($0.08) earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts predict that Chewy, Inc. will post 0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Satish Mehta sold 8,056 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the completion of the sale, the chief technology officer now owns 585,962 shares in the company, valued at approximately $19,612,148.14. This trade represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,128,804 shares of company stock valued at $827,019,626 in the last 90 days. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CHWY shares. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and increased their price target for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Morgan Stanley lifted their price objective on shares of Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Evercore ISI increased their price objective 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. Finally, Piper Sandler boosted their target price on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.15.

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.