Archford Capital Strategies LLC Takes $676,000 Position in Chewy (NYSE:CHWY)

Archford Capital Strategies LLC bought a new stake in Chewy (NYSE:CHWY - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 20,801 shares of the company's stock, valued at approximately $676,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. North Star Investment Management Corp. lifted its position in Chewy by 26.6% during the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock worth $55,000 after acquiring an additional 353 shares during the period. Park Avenue Securities LLC raised its stake in shares of Chewy by 5.3% during the first quarter. Park Avenue Securities LLC now owns 7,281 shares of the company's stock worth $237,000 after purchasing an additional 364 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Chewy by 8.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company's stock worth $189,000 after purchasing an additional 450 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Chewy by 150.2% during the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock worth $26,000 after purchasing an additional 473 shares during the period. Finally, Snowden Capital Advisors LLC grew its position in Chewy by 4.2% in the 4th quarter. Snowden Capital Advisors LLC now owns 16,442 shares of the company's stock valued at $551,000 after buying an additional 669 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company's stock.

Wall Street Analysts Forecast Growth

CHWY has been the subject of a number of analyst reports. JMP Securities cut their price objective on shares of Chewy from $40.00 to $39.00 and set a "market outperform" rating for the company in a research report on Monday, April 14th. Guggenheim reissued a "buy" rating and set a $45.00 price target (up from $42.00) on shares of Chewy in a report on Thursday, June 12th. Wedbush restated an "outperform" rating and issued a $39.00 price objective on shares of Chewy in a research report on Thursday, March 27th. Wall Street Zen lowered Chewy from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Chewy in a research note on Thursday, June 12th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.39.

Insider Transactions at Chewy

In other Chewy news, CEO Sumit Singh sold 148,063 shares of Chewy stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.67, for a total value of $6,021,722.21. Following the completion of the sale, the chief executive officer now directly owns 705,252 shares of the company's stock, valued at approximately $28,682,598.84. The trade was a 17.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the business's stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 30,176,166 shares of company stock valued at $1,259,387,645 over the last three months. 0.43% of the stock is currently owned by insiders.

Chewy Stock Performance

NYSE:CHWY traded up $0.86 during mid-day trading on Thursday, hitting $43.49. 6,902,999 shares of the company's stock traded hands, compared to its average volume of 6,793,683. The company has a market cap of $18.06 billion, a PE ratio of 48.86, a price-to-earnings-growth ratio of 8.90 and a beta of 1.75. The firm's 50 day simple moving average is $41.21 and its 200 day simple moving average is $37.14. Chewy has a 1 year low of $19.75 and a 1 year high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share 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 business had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.08 billion. During the same period last year, the company posted $0.31 EPS. The company's revenue was up 6.3% on a year-over-year basis. On average, research analysts expect that Chewy will post 0.24 earnings per share for the current fiscal year.

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.