Chewy, Inc. (NYSE:CHWY) Shares Acquired by Curbstone Financial Management Corp

Curbstone Financial Management Corp grew its position in Chewy, Inc. (NYSE:CHWY) by 12.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,060 shares of the company’s stock after purchasing an additional 3,150 shares during the period. Curbstone Financial Management Corp’s holdings in Chewy were worth $1,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Independent Advisor Alliance acquired a new position in shares of Chewy in the 1st quarter valued at about $206,000. Dark Forest Capital Management LP purchased a new stake in shares of Chewy during the 1st quarter valued at about $75,000. Pearl River Capital LLC raised its holdings in shares of Chewy by 109.4% during the 1st quarter. Pearl River Capital LLC now owns 59,647 shares of the company’s stock valued at $2,230,000 after buying an additional 31,164 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Chewy by 10.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 141,613 shares of the company’s stock valued at $5,293,000 after buying an additional 13,027 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Chewy by 8.6% during the 1st quarter. Wellington Management Group LLP now owns 5,535,915 shares of the company’s stock valued at $206,933,000 after buying an additional 438,175 shares during the period. 98.28% of the stock is owned by institutional investors and hedge funds.

Chewy Stock Performance

Shares of NYSE CHWY traded up $0.69 during trading on Friday, reaching $24.67. The stock had a trading volume of 9,853,084 shares, compared to its average volume of 4,419,791. Chewy, Inc. has a one year low of $23.03 and a one year high of $52.88. The stock has a market cap of $10.54 billion, a PE ratio of 205.58, a P/E/G ratio of 201.39 and a beta of 0.85. The firm’s 50 day moving average price is $32.95 and its two-hundred day moving average price is $35.13.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, May 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.12. Chewy had a return on equity of 39.90% and a net margin of 0.51%. The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.73 billion.

Insider Activity at Chewy

In related news, insider Stacy Bowman sold 13,571 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $39.72, for a total transaction of $539,040.12. Following the completion of the transaction, the insider now owns 282,514 shares in the company, valued at approximately $11,221,456.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chewy news, CFO Mario Jesus Marte sold 100,000 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $40.00, for a total transaction of $4,000,000.00. Following the completion of the transaction, the chief financial officer now owns 203,023 shares in the company, valued at approximately $8,120,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stacy Bowman sold 13,571 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $39.72, for a total value of $539,040.12. Following the transaction, the insider now owns 282,514 shares of the company’s stock, valued at approximately $11,221,456.08. The disclosure for this sale can be found here. Insiders sold 304,798 shares of company stock worth $12,007,357 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CHWY. Citigroup dropped their target price on Chewy from $36.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday. The Goldman Sachs Group upgraded Chewy from a “neutral” rating to a “buy” rating and raised their target price for the company from $39.00 to $50.00 in a report on Monday, July 17th. Royal Bank of Canada dropped their target price on Chewy from $56.00 to $44.00 and set an “outperform” rating on the stock in a report on Thursday. Guggenheim dropped their target price on Chewy from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Friday. Finally, Barclays dropped their price objective on Chewy from $35.00 to $28.00 and set an “equal weight” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Chewy presently has an average rating of “Moderate Buy” and an average price target of $38.45.

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 Website www.chewy.com, as well as mobile applications.