Bank of New York Mellon Corp Has $141.99 Million Position in Chewy (NYSE:CHWY)

Bank of New York Mellon Corp reduced its holdings in shares of Chewy (NYSE:CHWY - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,367,460 shares of the company's stock after selling 121,777 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.06% of Chewy worth $141,986,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC raised its stake in Chewy by 150.2% during the 1st 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 worth $30,000. Golden State Wealth Management LLC raised its position in shares of Chewy by 104.6% in the 1st quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock worth $31,000 after buying an additional 481 shares during the period. North Star Investment Management Corp. raised its position in shares of Chewy by 26.6% in the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock worth $55,000 after buying an additional 353 shares during the period. Finally, UMB Bank n.a. raised its position in Chewy by 225.7% in the first quarter. UMB Bank n.a. now owns 1,866 shares of the company's stock valued at $61,000 after purchasing an additional 1,293 shares during the period. 93.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chewy

In other news, CTO Satish Mehta sold 9,243 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $36.50, for a total value of $337,369.50. Following the completion of the transaction, the chief technology officer owned 276,467 shares in the company, valued at $10,091,045.50. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 148,063 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.67, for a total transaction of $6,021,722.21. Following the completion of the transaction, the chief executive officer owned 705,252 shares of the company's stock, valued at $28,682,598.84. This trade represents a 17.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,167,614 shares of company stock valued at $1,259,102,436. 0.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CHWY. The Goldman Sachs Group lifted their target price on Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Seaport Res Ptn upgraded Chewy to a "hold" rating in a research report on Monday, March 24th. Guggenheim reaffirmed a "buy" rating and set a $45.00 target price (up from $42.00) on shares of Chewy in a research report on Thursday, June 12th. UBS Group boosted their target price on shares of Chewy from $36.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Finally, Needham & Company LLC reaffirmed 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, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $43.89.

Chewy Stock Performance

Shares of NYSE:CHWY traded down $0.80 on Friday, hitting $37.97. 5,231,297 shares of the company were exchanged, compared to its average volume of 6,190,149. The company's 50 day moving average price is $42.34 and its two-hundred day moving average price is $37.79. Chewy has a one year low of $19.75 and a one year high of $48.62. The firm has a market capitalization of $15.77 billion, a price-to-earnings ratio of 42.66, a PEG ratio of 8.13 and a beta of 1.71.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, beating 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 firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the business earned $0.31 earnings per share. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts predict that Chewy will post 0.24 earnings per share for the current year.

Chewy Company 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.