Wealth Enhancement Advisory Services LLC Has $569,000 Stock Holdings in Chewy, Inc. (NYSE:CHWY)

Wealth Enhancement Advisory Services LLC trimmed its stake in shares of Chewy, Inc. (NYSE:CHWY) by 18.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,440 shares of the company’s stock after selling 4,482 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Chewy were worth $569,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CHWY. Commonwealth Equity Services LLC grew its position in Chewy by 28.3% during the first quarter. Commonwealth Equity Services LLC now owns 40,476 shares of the company’s stock valued at $644,000 after purchasing an additional 8,940 shares in the last quarter. SG Americas Securities LLC increased its holdings in Chewy by 40.5% in the 1st quarter. SG Americas Securities LLC now owns 42,029 shares of the company’s stock valued at $669,000 after buying an additional 12,118 shares during the period. Oppenheimer & Co. Inc. raised its position in Chewy by 371.5% in the first quarter. Oppenheimer & Co. Inc. now owns 50,068 shares of the company’s stock worth $797,000 after purchasing an additional 39,450 shares in the last quarter. Swiss National Bank raised its holdings in shares of Chewy by 1.0% in the 1st quarter. Swiss National Bank now owns 237,400 shares of the company’s stock worth $3,777,000 after buying an additional 2,400 shares in the last quarter. Finally, Washington Trust Advisors Inc. lifted its holdings in shares of Chewy by 25.6% during the first quarter. Washington Trust Advisors Inc. now owns 293,413 shares of the company’s stock valued at $4,668,000 after acquiring an additional 59,818 shares during the period. 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 1,250,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CHWY shares. Morgan Stanley lifted their price objective on Chewy from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Barclays raised their price target on Chewy from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Bank of America upped their target price on shares of Chewy from $20.00 to $24.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and an average target price of $29.55.

Chewy Trading Up 3.5 %

NYSE CHWY opened at $30.78 on Friday. The company has a market cap of $12.87 billion, a P/E ratio of 37.62, a PEG ratio of 2.88 and a beta of 1.06. The company has a fifty day simple moving average of $28.84 and a 200 day simple moving average of $24.60. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $39.10.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. Sell-side analysts predict that Chewy, Inc. will post 0.32 EPS for the current year.

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.