Cornerstone Wealth Management LLC decreased its position in Chewy, Inc. (NYSE:CHWY – Free Report) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,431 shares of the company’s stock after selling 542 shares during the period. Cornerstone Wealth Management LLC’s holdings in Chewy were worth $818,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in shares of Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after acquiring an additional 905 shares during the period. Planning Capital Management Corp acquired a new position in shares of Chewy during the 3rd quarter valued at $52,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Chewy in the third quarter valued at $62,000. Wilmington Savings Fund Society FSB bought a new stake in Chewy in the third quarter worth about $63,000. Finally, Castleview Partners LLC bought a new position in shares of Chewy during the 3rd quarter valued at about $76,000. Institutional investors and hedge funds own 93.09% of the company’s stock.
Wall Street Analyst Weigh In
CHWY has been the subject of a number of research reports. Evercore ISI upgraded shares of Chewy from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $47.00 in a report on Monday, January 13th. Argus raised Chewy from a “hold” rating to a “buy” rating in a research report on Thursday. The Goldman Sachs Group boosted their price objective on Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Morgan Stanley raised their target price on Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Piper Sandler increased their price target on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.80.
Insider Activity
In other Chewy news, CEO Sumit Singh sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $37.52, for a total value of $150,080.00. Following the completion of the transaction, the chief executive officer now owns 518,581 shares of the company’s stock, valued at $19,457,159.12. This represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,103,513 shares of company stock valued at $916,453,941. 2.10% of the stock is owned by company insiders.
Chewy Trading Up 3.3 %
NYSE:CHWY opened at $39.25 on Friday. The firm has a market capitalization of $15.98 billion, a PE ratio of 43.13, a PEG ratio of 4.16 and a beta of 1.10. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.60. The firm’s fifty day simple moving average is $34.48 and its 200 day simple moving average is $30.05.
Chewy (NYSE:CHWY – Get Free Report) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period last year, the business posted ($0.08) earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that Chewy, Inc. will post 0.24 EPS for the current fiscal year.
Chewy Profile
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.
Featured Stories
- Five stocks we like better than Chewy
- ESG Stocks, What Investors Should Know
- Bloom Energy: Powering the Future With Decentralized Energy
- Russell 2000 Index, How Investors Use it For Profitable Trading
- Dividend Powerhouses: Blue-Chip Stocks Built for the Long Haul
- How to Most Effectively Use the MarketBeat Earnings Screener
- Why Traders Are Buying the Dip on Johnson & Johnson Stock
Want to see what other hedge funds are holding CHWY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chewy, Inc. (NYSE:CHWY – Free Report).
Receive News & Ratings for Chewy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chewy and related companies with MarketBeat.com's FREE daily email newsletter.