Bank of New York Mellon Corp Buys 32,457 Shares of Chewy, Inc. (NYSE:CHWY)

Bank of New York Mellon Corp lifted its position in shares of Chewy, Inc. (NYSE:CHWY – Get Rating) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,466,515 shares of the company’s stock after purchasing an additional 32,457 shares during the period. Bank of New York Mellon Corp’s holdings in Chewy were worth $45,053,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Samlyn Capital LLC purchased a new stake in Chewy in the second quarter worth about $49,246,000. Macquarie Group Ltd. lifted its holdings in Chewy by 68.4% in the third quarter. Macquarie Group Ltd. now owns 2,381,129 shares of the company’s stock worth $73,148,000 after buying an additional 967,028 shares during the period. Wellington Management Group LLP lifted its holdings in Chewy by 19.0% in the first quarter. Wellington Management Group LLP now owns 5,369,539 shares of the company’s stock worth $218,969,000 after buying an additional 856,909 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Chewy in the third quarter worth about $11,974,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Chewy in the third quarter worth about $9,646,000. 99.05% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Trading Down 2.7 %

NYSE:CHWY opened at $38.80 on Friday. Chewy, Inc. has a 12 month low of $22.22 and a 12 month high of $52.88. The company has a market cap of $16.43 billion, a PE ratio of -775.84, a price-to-earnings-growth ratio of 16.17 and a beta of 0.79. The company has a 50 day simple moving average of $42.66 and a two-hundred day simple moving average of $39.43.

Chewy (NYSE:CHWY – Get Rating) last posted its earnings results on Thursday, December 8th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. Chewy had a negative net margin of 0.21% and a negative return on equity of 23.10%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.45 billion. Research analysts forecast that Chewy, Inc. will post -0.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Satish Mehta sold 4,635 shares of Chewy stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $39.74, for a total transaction of $184,194.90. Following the transaction, the chief technology officer now owns 412,485 shares in the company, valued at approximately $16,392,153.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Satish Mehta sold 4,635 shares of Chewy stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $39.74, for a total transaction of $184,194.90. Following the transaction, the chief technology officer now owns 412,485 shares in the company, valued at approximately $16,392,153.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Susan Helfrick sold 16,947 shares of Chewy stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $45.00, for a total transaction of $762,615.00. Following the transaction, the general counsel now owns 56,270 shares in the company, valued at approximately $2,532,150. The disclosure for this sale can be found here. In the last quarter, insiders sold 266,723 shares of company stock valued at $11,354,402. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

CHWY has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Chewy in a research note on Tuesday, March 7th. Gordon Haskett initiated coverage on shares of Chewy in a research note on Wednesday, February 15th. They set a “hold” rating and a $46.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of Chewy from $40.00 to $50.00 in a research note on Monday, November 21st. Morgan Stanley decreased their target price on shares of Chewy from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 18th. Finally, Evercore ISI raised their target price on shares of Chewy to $55.00 in a research note on Monday, December 12th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and an average price target of $45.52.

About Chewy

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Chewy, Inc operates as a pure-play pet e-tailer in the United States. It supplies pet medications, food, treats and other pet-health products and services for dogs, cats, fish, birds, small pets, horses, and reptiles. The company was founded by Ryan Cohen and Michael Day in September 2011 and is headquartered in Dania Beach, FL.