Chewy, Inc. (NYSE:CHWY) Holdings Reduced by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. decreased its position in Chewy, Inc. (NYSE:CHWY) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 274,960 shares of the company’s stock after selling 3,492 shares during the period. Washington Trust Advisors Inc.’s holdings in Chewy were worth $9,208,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp grew its position in Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares during the last quarter. Planning Capital Management Corp bought a new position in Chewy in the 3rd quarter worth about $52,000. Blue Trust Inc. grew its position in Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after purchasing an additional 320 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Chewy in the third quarter valued at approximately $63,000. Finally, Allworth Financial LP boosted its holdings in shares of Chewy by 52.0% in the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after acquiring an additional 650 shares in the last quarter. Institutional investors own 93.09% of the company’s stock.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $31.32, for a total transaction of $620,989,219.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David Reeder sold 307,558 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $37.48, for a total transaction of $11,527,273.84. Following the completion of the transaction, the chief financial officer now owns 546,257 shares in the company, valued at approximately $20,473,712.36. This trade represents a 36.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,553,371 shares of company stock worth $933,605,214. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CHWY shares. Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $24.00 to $42.00 in a report on Monday, January 6th. Barclays increased their price objective on shares of Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Morgan Stanley raised their target price on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. UBS Group raised their target price on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Chewy presently has an average rating of “Moderate Buy” and a consensus price target of $37.30.

Chewy Stock Performance

NYSE:CHWY opened at $36.86 on Thursday. The firm’s 50-day moving average is $36.75 and its 200-day moving average is $32.52. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $40.09. The company has a market cap of $15.01 billion, a price-to-earnings ratio of 40.50, a PEG ratio of 2.21 and a beta of 1.23.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the previous year, the firm posted ($0.08) EPS. The business’s revenue was up 5.2% compared to the same quarter last year. Equities analysts predict that Chewy, Inc. will post 0.24 EPS for the current 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.