HighTower Advisors LLC Decreases Stock Holdings in Chewy, Inc. (NYSE:CHWY)

HighTower Advisors LLC cut its holdings in Chewy, Inc. (NYSE:CHWY – Get Rating) by 13.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,712 shares of the company’s stock after selling 6,742 shares during the quarter. HighTower Advisors LLC’s holdings in Chewy were worth $1,589,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Belpointe Asset Management LLC bought a new position in shares of Chewy in the 4th quarter valued at about $33,000. CWM LLC boosted its holdings in shares of Chewy by 39.3% in the 4th quarter. CWM LLC now owns 1,014 shares of the company’s stock worth $38,000 after purchasing an additional 286 shares during the period. U.S. Capital Wealth Advisors LLC bought a new position in shares of Chewy during the 4th quarter valued at approximately $52,000. Parallel Advisors LLC increased its position in shares of Chewy by 443.1% during the 4th quarter. Parallel Advisors LLC now owns 1,412 shares of the company’s stock valued at $52,000 after purchasing an additional 1,152 shares during the last quarter. Finally, Exos TFP Holdings LLC purchased a new stake in Chewy during the 3rd quarter valued at $78,000. Institutional investors own 99.05% of the company’s stock.

Chewy Price Performance

Shares of NYSE CHWY opened at $30.16 on Friday. Chewy, Inc. has a 1-year low of $22.96 and a 1-year high of $52.88. The business has a fifty day moving average price of $34.08 and a 200 day moving average price of $39.02. The stock has a market capitalization of $12.88 billion, a P/E ratio of 274.18, a price-to-earnings-growth ratio of 106.80 and a beta of 0.76.

Chewy (NYSE:CHWY – Get Rating) last announced its earnings results on Wednesday, March 22nd. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.28. Chewy had a net margin of 0.49% and a return on equity of 45.19%. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.64 billion. As a group, equities research analysts anticipate that Chewy, Inc. will post 0.02 earnings per share for the current fiscal year.

Insider Activity at Chewy

In other news, CTO Satish Mehta sold 4,635 shares of the stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $39.74, for a total transaction of $184,194.90. Following the completion of the sale, 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 document filed with the SEC, which is accessible through the SEC website. In other Chewy news, CFO Mario Jesus Marte sold 3,813 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $39.74, for a total transaction of $151,528.62. Following the sale, the chief financial officer now owns 190,024 shares of the company’s stock, valued at approximately $7,551,553.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Satish Mehta sold 4,635 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $39.74, for a total transaction of $184,194.90. Following the completion of the transaction, the chief technology officer now directly owns 412,485 shares of the company’s stock, valued at approximately $16,392,153.90. The disclosure for this sale can be found here. Insiders sold 29,765 shares of company stock valued at $1,182,861 over the last 90 days. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

CHWY has been the subject of several recent analyst reports. Roth Capital reaffirmed a “buy” rating on shares of Chewy in a research note on Thursday, March 9th. Barclays cut their price target on shares of Chewy from $35.00 to $33.00 in a report on Thursday, March 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Chewy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $41.00 to $35.00 in a research note on Thursday, March 23rd. Citigroup cut their target price on Chewy from $43.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, March 27th. Finally, Gordon Haskett initiated coverage on Chewy in a research note on Wednesday, February 15th. They set a “hold” rating and a $46.00 price target for the company. Eleven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.77.

Chewy Profile

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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.