Pinnacle Associates Ltd. Acquires 26,845 Shares of Chewy, Inc. (NYSE:CHWY)

Pinnacle Associates Ltd. increased its holdings in Chewy, Inc. (NYSE:CHWYGet Rating) by 70.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,122 shares of the company’s stock after buying an additional 26,845 shares during the period. Pinnacle Associates Ltd.’s holdings in Chewy were worth $3,840,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CHWY. Baillie Gifford & Co. grew its holdings in shares of Chewy by 69.5% during the 4th quarter. Baillie Gifford & Co. now owns 13,302,667 shares of the company’s stock valued at $784,458,000 after purchasing an additional 5,455,428 shares during the last quarter. Wellington Management Group LLP grew its holdings in Chewy by 426.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,496,886 shares of the company’s stock worth $170,062,000 after acquiring an additional 2,023,038 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Chewy by 5,903.0% in the 3rd quarter. Macquarie Group Ltd. now owns 1,702,810 shares of the company’s stock worth $115,979,000 after acquiring an additional 1,674,444 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Chewy by 263.5% in the 3rd quarter. Two Sigma Advisers LP now owns 716,400 shares of the company’s stock worth $48,794,000 after acquiring an additional 519,300 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in Chewy by 41.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,726,740 shares of the company’s stock worth $117,295,000 after acquiring an additional 510,278 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

CHWY has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price target on shares of Chewy from $77.00 to $73.00 and set an “outperform” rating on the stock in a report on Wednesday, March 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Chewy in a report on Friday, March 11th. They issued a “buy” rating and a $55.00 price target on the stock. Barclays cut their price target on shares of Chewy from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 30th. Morgan Stanley cut their target price on shares of Chewy from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 30th. Finally, Wedbush cut their target price on shares of Chewy from $55.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $75.55.

Shares of CHWY stock opened at $43.19 on Monday. Chewy, Inc. has a 12 month low of $35.59 and a 12 month high of $97.74. The company has a 50 day simple moving average of $44.68 and a two-hundred day simple moving average of $55.41.

Chewy (NYSE:CHWYGet Rating) last announced its quarterly earnings data on Tuesday, March 29th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.07). The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Chewy had a negative return on equity of 131.33% and a negative net margin of 0.83%. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share. As a group, research analysts predict that Chewy, Inc. will post -0.43 earnings per share for the current year.

Chewy Profile (Get Rating)

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company 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 www.chewy.com retail Website, as well as its mobile applications.

See Also

Institutional Ownership by Quarter for Chewy (NYSE:CHWY)

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