Raymond James & Associates Sells 44,088 Shares of Chewy, Inc. (NYSE:CHWY)

Raymond James & Associates lessened its stake in Chewy, Inc. (NYSE:CHWY) by 34.5% in the fourth quarter, Holdings Channel reports. The firm owned 83,585 shares of the company’s stock after selling 44,088 shares during the quarter. Raymond James & Associates’ holdings in Chewy were worth $1,975,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Chewy by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,464,429 shares of the company’s stock worth $154,560,000 after acquiring an additional 344,273 shares during the period. Wellington Management Group LLP lifted its stake in Chewy by 19.0% during the first quarter. Wellington Management Group LLP now owns 5,369,539 shares of the company’s stock worth $218,969,000 after purchasing an additional 856,909 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Chewy by 101.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company’s stock valued at $63,518,000 after purchasing an additional 1,751,131 shares in the last quarter. BlackRock Inc. increased its stake in shares of Chewy by 1.0% in the 2nd quarter. BlackRock Inc. now owns 2,658,440 shares of the company’s stock valued at $104,929,000 after purchasing an additional 25,506 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Chewy by 16.3% during the 1st quarter. Two Sigma Advisers LP now owns 2,287,100 shares of the company’s stock worth $85,492,000 after buying an additional 321,200 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chewy

In related news, CTO Satish Mehta sold 40,523 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $17.70, for a total transaction of $717,257.10. Following the sale, the chief technology officer now owns 557,058 shares in the company, valued at approximately $9,859,926.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Chewy news, CEO Sumit Singh sold 6,728 shares of Chewy stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $104,485.84. Following the completion of the sale, the chief executive officer now directly owns 129,991 shares of the company’s stock, valued at $2,018,760.23. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Satish Mehta sold 40,523 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $17.70, for a total transaction of $717,257.10. Following the transaction, the chief technology officer now owns 557,058 shares in the company, valued at approximately $9,859,926.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,169 shares of company stock valued at $4,396,079. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

CHWY has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $28.00 target price on shares of Chewy in a research report on Friday, March 15th. JPMorgan Chase & Co. lowered their price objective on shares of Chewy from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Mizuho assumed coverage on shares of Chewy in a research note on Tuesday, March 19th. They set a “neutral” rating and a $18.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of Chewy in a report on Thursday, March 21st. Finally, The Goldman Sachs Group cut their price objective on Chewy from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.64.

Chewy Stock Performance

Chewy stock opened at $16.56 on Wednesday. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 206.96, a PEG ratio of 9.18 and a beta of 0.91. Chewy, Inc. has a 52-week low of $15.08 and a 52-week high of $40.78. The firm has a 50 day moving average price of $16.91 and a two-hundred day moving average price of $18.74.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. Chewy had a net margin of 0.33% and a return on equity of 11.69%. As a group, equities research analysts predict that Chewy, Inc. will post 0.08 EPS for the current fiscal 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.