Bank of New York Mellon Corp Purchases 32,457 Shares of Chewy, Inc. (NYSE:CHWY)

Bank of New York Mellon Corp boosted its position in Chewy, Inc. (NYSE:CHWY – Get Rating) by 2.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,466,515 shares of the company’s stock after buying an additional 32,457 shares during the period. Bank of New York Mellon Corp owned approximately 0.35% of Chewy worth $45,053,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. James Investment Research Inc. bought a new stake in Chewy in the 3rd quarter valued at about $34,000. Clearstead Advisors LLC increased its position in Chewy by 27.2% in the 2nd quarter. Clearstead Advisors LLC now owns 1,103 shares of the company’s stock valued at $38,000 after buying an additional 236 shares in the last quarter. Prospera Financial Services Inc increased its position in Chewy by 43.6% in the 2nd quarter. Prospera Financial Services Inc now owns 1,212 shares of the company’s stock valued at $42,000 after buying an additional 368 shares in the last quarter. Fifth Third Bancorp increased its position in Chewy by 24.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,353 shares of the company’s stock valued at $42,000 after buying an additional 268 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in Chewy in the 3rd quarter valued at about $49,000. 99.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CHWY. Gordon Haskett began coverage on Chewy in a research report on Wednesday, February 15th. They issued a “hold” rating and a $46.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of Chewy in a report on Tuesday, March 7th. Barclays boosted their price objective on Chewy from $30.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, December 9th. Wedbush raised Chewy from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $35.00 to $55.00 in a report on Friday, January 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Chewy from $40.00 to $50.00 in a report on Monday, November 21st. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.52.

Insiders Place Their Bets

In other Chewy news, CTO Satish Mehta sold 4,635 shares of the stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $39.74, for a total transaction of $184,194.90. Following the sale, the chief technology officer now owns 412,485 shares in the company, valued at $16,392,153.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Chewy news, CFO Mario Jesus Marte sold 37,208 shares of the stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $42.79, for a total transaction of $1,592,130.32. Following the sale, the chief financial officer now owns 289,120 shares in the company, valued at $12,371,444.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Satish Mehta sold 4,635 shares of the stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $39.74, for a total value of $184,194.90. Following the sale, the chief technology officer now owns 412,485 shares in the company, valued at approximately $16,392,153.90. The disclosure for this sale can be found here. Insiders have sold a total of 266,723 shares of company stock worth $11,354,402 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Chewy Trading Down 2.7 %

Chewy stock opened at $38.80 on Friday. Chewy, Inc. has a 12 month low of $22.22 and a 12 month high of $52.88. The business’s 50 day simple moving average is $42.66 and its 200 day simple moving average is $39.43. The company has a market cap of $16.43 billion, a price-to-earnings ratio of -775.84, a PEG ratio of 16.17 and a beta of 0.79.

Chewy (NYSE:CHWY – Get Rating) last posted its quarterly earnings data on Thursday, December 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.09. Chewy had a negative return on equity of 23.10% and a negative net margin of 0.21%. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.45 billion. As a group, equities research analysts forecast that Chewy, Inc. will post -0.02 earnings per share for the current fiscal year.

Chewy Company Profile

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Chewy, Inc operates as a pure-play pet e-tailer in the United States. It supplies pet medications, food, treats and other pet-health products and services for dogs, cats, fish, birds, small pets, horses, and reptiles. The company was founded by Ryan Cohen and Michael Day in September 2011 and is headquartered in Dania Beach, FL.