Retirement Planning Co of New England Inc. Invests $210,000 in Chewy $CHWY

Key Points

• Retirement Planning Co of New England Inc. acquired 6,468 shares of Chewy, valued at approximately $210,000, marking a new investment in the company during the first quarter.
• Chewy's institutional ownership is high at 93.09%, and the company's stock has been recently upgraded by several analysts, with target prices ranging from $43.00 to $52.00.
• Major shareholder Argos Holdings sold over 29 million shares of Chewy, while insider transactions included the sale of 8,727 shares by CTO Satish Mehta.

Retirement Planning Co of New England Inc. acquired a new position in shares of Chewy (NYSE:CHWY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,468 shares of the company's stock, valued at approximately $210,000.

Other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of Chewy by 150.2% during the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock valued at $26,000 after acquiring an additional 473 shares during the last quarter. Banque Transatlantique SA acquired a new stake in shares of Chewy during the fourth quarter valued at about $30,000. Golden State Wealth Management LLC increased its position in shares of Chewy by 104.6% during the first quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after acquiring an additional 481 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Chewy during the first quarter valued at about $44,000. Finally, North Star Investment Management Corp. increased its position in shares of Chewy by 26.6% during the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock valued at $55,000 after acquiring an additional 353 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of Chewy stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $41.75, for a total value of $1,250,000,010.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William G. Billings sold 20,142 shares of Chewy stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $35.57, for a total transaction of $716,450.94. Following the completion of the transaction, the chief accounting officer owned 29,464 shares of the company's stock, valued at $1,048,034.48. This represents a 40.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,008,777 shares of company stock worth $1,252,444,321 over the last three months. Insiders own 0.43% of the company's stock.

Chewy Price Performance

Shares of NYSE CHWY traded up $1.15 during midday trading on Friday, hitting $42.31. The company's stock had a trading volume of 7,029,970 shares, compared to its average volume of 5,728,143. The business's fifty day simple moving average is $38.84 and its two-hundred day simple moving average is $38.22. Chewy has a 1 year low of $25.21 and a 1 year high of $48.62. The firm has a market capitalization of $17.57 billion, a price-to-earnings ratio of 47.54, a price-to-earnings-growth ratio of 8.59 and a beta of 1.65.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The firm's quarterly revenue was up 6.3% on a year-over-year basis. Chewy has set its FY 2025 guidance at EPS. Analysts anticipate that Chewy will post 0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CHWY has been the subject of a number of recent analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $50.00 price target (up from $39.00) on shares of Chewy in a research report on Thursday, June 12th. Royal Bank Of Canada reiterated an "outperform" rating and set a $44.00 price target (up from $42.00) on shares of Chewy in a research report on Thursday, June 12th. Wall Street Zen cut shares of Chewy from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Cowen reissued a "buy" rating on shares of Chewy in a research note on Friday, June 6th. Finally, Guggenheim reissued a "buy" rating and issued a $45.00 price objective (up previously from $42.00) on shares of Chewy in a research note on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.78.

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 websites and mobile applications.