Advisors Asset Management Inc. Cuts Holdings in Chewy, Inc. (NYSE:CHWY)

Advisors Asset Management Inc. lessened its stake in Chewy, Inc. (NYSE:CHWYGet Rating) by 31.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,224 shares of the company’s stock after selling 7,947 shares during the period. Advisors Asset Management Inc.’s holdings in Chewy were worth $598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. OLD National Bancorp IN grew its stake in Chewy by 1.8% in the 2nd quarter. OLD National Bancorp IN now owns 15,517 shares of the company’s stock worth $539,000 after buying an additional 272 shares in the last quarter. Prospera Financial Services Inc grew its stake in Chewy by 43.6% in the 2nd quarter. Prospera Financial Services Inc now owns 1,212 shares of the company’s stock worth $42,000 after buying an additional 368 shares in the last quarter. Elequin Capital LP purchased a new stake in shares of Chewy in the 1st quarter valued at $25,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Chewy by 320.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 840 shares of the company’s stock valued at $34,000 after purchasing an additional 640 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of Chewy by 13.8% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 5,763 shares of the company’s stock valued at $200,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 99.39% of the company’s stock.

Insider Transactions at Chewy

In other news, CEO Sumit Singh sold 11,748 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $40.46, for a total value of $475,324.08. Following the transaction, the chief executive officer now owns 47,613 shares in the company, valued at approximately $1,926,421.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sumit Singh sold 11,748 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $40.46, for a total value of $475,324.08. Following the transaction, the chief executive officer now owns 47,613 shares in the company, valued at approximately $1,926,421.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mario Jesus Marte sold 28,171 shares of the stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $43.96, for a total transaction of $1,238,397.16. Following the completion of the transaction, the chief financial officer now owns 147,088 shares in the company, valued at approximately $6,465,988.48. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Chewy from $56.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, August 31st. Moffett Nathanson assumed coverage on shares of Chewy in a research note on Tuesday. They issued a “market perform” rating and a $33.00 price objective for the company. Oppenheimer started coverage on shares of Chewy in a research note on Thursday, October 6th. They issued an “outperform” rating and a $42.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Chewy from $52.00 to $40.00 in a report on Wednesday, August 31st. Finally, Guggenheim lowered their price target on shares of Chewy from $55.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, August 31st. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Chewy has a consensus rating of “Moderate Buy” and a consensus price target of $43.05.

Chewy Stock Performance

Shares of CHWY stock opened at $40.92 on Friday. Chewy, Inc. has a one year low of $22.22 and a one year high of $75.68. The company’s 50-day moving average is $36.04 and its 200 day moving average is $35.70. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of -292.26 and a beta of 0.62.

Chewy (NYSE:CHWYGet Rating) last announced its quarterly earnings results on Tuesday, August 30th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.17. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.45 billion. Chewy had a negative net margin of 0.58% and a negative return on equity of 85.74%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.04) EPS. As a group, research analysts predict that Chewy, Inc. will post -0.11 earnings per share for the current fiscal year.

Chewy Company Profile

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Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company 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 www.chewy.com retail Website, as well as its mobile applications.

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Institutional Ownership by Quarter for Chewy (NYSE:CHWY)

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