Capital Impact Advisors LLC Sells 31,486 Shares of Chewy, Inc. (NYSE:CHWY)

Capital Impact Advisors LLC cut its stake in Chewy, Inc. (NYSE:CHWY) by 53.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,472 shares of the company’s stock after selling 31,486 shares during the quarter. Chewy accounts for about 2.1% of Capital Impact Advisors LLC’s investment portfolio, making the stock its 16th largest holding. Capital Impact Advisors LLC’s holdings in Chewy were worth $748,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. 1620 Investment Advisors Inc. bought a new stake in Chewy during the second quarter valued at approximately $33,000. Industrial Alliance Investment Management Inc. bought a new stake in Chewy during the second quarter valued at approximately $44,000. First Horizon Advisors Inc. bought a new stake in Chewy during the second quarter valued at approximately $48,000. Skylands Capital LLC bought a new stake in Chewy during the second quarter valued at approximately $52,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Chewy during the first quarter valued at approximately $65,000. 93.09% of the stock is currently owned by institutional investors.

Chewy Stock Up 1.1 %

Chewy stock opened at $29.96 on Monday. The company has a market cap of $13.03 billion, a price-to-earnings ratio of 166.44, a PEG ratio of 2.98 and a beta of 1.04. The firm’s fifty day moving average is $26.92 and its 200 day moving average is $22.32. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $39.10.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $2.86 billion. On average, equities research analysts anticipate that Chewy, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CHWY has been the subject of several recent research reports. Citigroup boosted their target price on shares of Chewy from $16.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Morgan Stanley upped their price target on shares of Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Royal Bank of Canada upped their price target on shares of Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Piper Sandler reiterated an “overweight” rating and issued a $35.00 price target on shares of Chewy in a research report on Friday, September 20th. Finally, Robert W. Baird upped their price target on shares of Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.11.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were 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 SEC, which is available at the SEC website. In other news, CTO Satish Mehta sold 2,894 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $64,362.56. Following the transaction, the chief technology officer now directly owns 573,463 shares in the company, valued at $12,753,817.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20. The disclosure for this sale can be found here. Insiders have sold 26,888,627 shares of company stock worth $790,397,620 over the last quarter. Insiders own 2.10% of the company’s stock.

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.