LPL Financial LLC Purchases 13,818 Shares of Chewy (NYSE:CHWY)

LPL Financial LLC raised its holdings in Chewy (NYSE:CHWY) by 11.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 134,487 shares of the company’s stock after acquiring an additional 13,818 shares during the period. LPL Financial LLC’s holdings in Chewy were worth $4,372,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. D.A. Davidson & CO. grew its position in shares of Chewy by 38.7% in the 1st quarter. D.A. Davidson & CO. now owns 43,725 shares of the company’s stock worth $1,422,000 after buying an additional 12,206 shares during the last quarter. Polar Asset Management Partners Inc. increased its position in Chewy by 26.5% during the fourth quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company’s stock valued at $9,670,000 after acquiring an additional 60,533 shares during the last quarter. Victory Capital Management Inc. increased its position in Chewy by 74.5% during the first quarter. Victory Capital Management Inc. now owns 139,889 shares of the company’s stock valued at $4,548,000 after acquiring an additional 59,711 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Chewy during the first quarter valued at about $11,326,000. Finally, Interval Partners LP bought a new position in shares of Chewy in the fourth quarter worth about $1,536,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Citigroup reiterated an “outperform” rating on shares of Chewy in a research report on Thursday, July 10th. Jefferies Financial Group restated a “hold” rating and set a $43.00 price objective (up from $41.00) on shares of Chewy in a report on Thursday, June 5th. JMP Securities lifted their price target on Chewy from $39.00 to $48.00 and gave the company a “market outperform” rating in a report on Thursday, July 10th. Royal Bank Of Canada restated an “outperform” rating and set a $44.00 target price (up from $42.00) on shares of Chewy in a research note on Thursday, June 12th. Finally, Citizens Jmp raised Chewy to a “strong-buy” rating in a research report on Thursday, July 10th. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.78.

Insider Transactions at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the firm’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $41.75, for a total value of $1,250,000,010.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Satish Mehta sold 8,727 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $35.82, for a total value of $312,601.14. Following the completion of the sale, the chief technology officer owned 276,467 shares in the company, valued at approximately $9,903,047.94. This represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,008,777 shares of company stock valued at $1,252,444,321. Corporate insiders own 0.43% of the company’s stock.

Chewy Stock Performance

NYSE:CHWY opened at $38.94 on Friday. The stock has a 50 day moving average price of $39.57 and a 200 day moving average price of $37.95. The stock has a market cap of $16.17 billion, a PE ratio of 43.75, a P/E/G ratio of 8.23 and a beta of 1.67. Chewy has a one year low of $25.19 and a one year high of $48.62.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, analysts predict that Chewy will post 0.24 earnings per share for the current fiscal year.

Chewy Profile

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.