Brown Advisory Inc. Sells 370 Shares of Chewy (NYSE:CHWY)

Brown Advisory Inc. reduced its position in Chewy (NYSE:CHWY) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,934 shares of the company’s stock after selling 370 shares during the quarter. Brown Advisory Inc.’s holdings in Chewy were worth $225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. D.A. Davidson & CO. raised its stake in Chewy by 38.7% during the first quarter. D.A. Davidson & CO. now owns 43,725 shares of the company’s stock worth $1,422,000 after acquiring an additional 12,206 shares in the last quarter. Polar Asset Management Partners Inc. raised its stake in Chewy by 26.5% during the fourth quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company’s stock worth $9,670,000 after acquiring an additional 60,533 shares in the last quarter. Interval Partners LP acquired a new position in Chewy during the fourth quarter worth $1,536,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Chewy during the first quarter worth $11,326,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in Chewy during the first quarter worth $1,045,000. 93.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on CHWY shares. UBS Group increased their price objective on Chewy from $36.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, June 5th. Wall Street Zen lowered Chewy from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Mizuho lowered Chewy from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $43.00 to $47.00 in a research note on Monday, June 9th. JMP Securities increased their price objective on Chewy from $39.00 to $48.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 10th. Finally, Seaport Res Ptn upgraded Chewy to a “hold” rating in a research note on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Chewy presently has an average rating of “Moderate Buy” and a consensus price target of $43.89.

Insider Buying and Selling

In other news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the business’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $41.75, for a total transaction of $1,250,000,010.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Satish Mehta sold 9,243 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $36.50, for a total value of $337,369.50. Following the transaction, the chief technology officer owned 276,467 shares of the company’s stock, valued at $10,091,045.50. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,167,614 shares of company stock valued at $1,259,102,436 over the last 90 days. 0.43% of the stock is owned by corporate insiders.

Chewy Stock Down 1.0%

Shares of CHWY stock opened at $37.91 on Thursday. The stock has a 50-day moving average price of $42.35 and a 200 day moving average price of $37.89. The firm has a market cap of $15.74 billion, a price-to-earnings ratio of 42.60, a PEG ratio of 8.00 and a beta of 1.71. Chewy has a 12 month low of $19.75 and a 12 month high of $48.62.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.08 billion. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. Sell-side analysts predict that Chewy will post 0.24 earnings per share 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.