Bank of New York Mellon Corp Sells 121,777 Shares of Chewy (NYSE:CHWY)

Bank of New York Mellon Corp trimmed its holdings in Chewy (NYSE:CHWY - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,367,460 shares of the company's stock after selling 121,777 shares during the period. Bank of New York Mellon Corp owned 1.06% of Chewy worth $141,986,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. D.A. Davidson & CO. lifted its position in shares of Chewy by 38.7% in the first quarter. D.A. Davidson & CO. now owns 43,725 shares of the company's stock valued at $1,422,000 after buying an additional 12,206 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Chewy by 81.0% in the first quarter. Teacher Retirement System of Texas now owns 29,080 shares of the company's stock valued at $945,000 after buying an additional 13,017 shares during the last quarter. DAVENPORT & Co LLC lifted its position in shares of Chewy by 1.9% in the first quarter. DAVENPORT & Co LLC now owns 54,376 shares of the company's stock valued at $1,768,000 after buying an additional 995 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Chewy during the 1st quarter worth approximately $65,000. Finally, Washington Trust Advisors Inc. lifted its holdings in Chewy by 1.8% during the 1st quarter. Washington Trust Advisors Inc. now owns 279,849 shares of the company's stock worth $9,098,000 after purchasing an additional 4,889 shares during the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JMP Securities dropped their price target on Chewy from $40.00 to $39.00 and set a "market outperform" rating for the company in a report on Monday, April 14th. Wall Street Zen cut Chewy from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Jefferies Financial Group reissued a "hold" rating and set a $43.00 price target (up from $41.00) on shares of Chewy in a report on Thursday, June 5th. Evercore ISI set a $52.00 price target on Chewy and gave the stock an "outperform" rating in a report on Thursday, June 12th. Finally, Citigroup reissued a "buy" rating and set a $49.00 price target (up from $42.00) on shares of Chewy in a report 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 company. According to MarketBeat, Chewy has a consensus rating of "Moderate Buy" and a consensus price target of $43.39.

Insider Transactions at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $41.75, for a total transaction of $1,250,000,010.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Satish Mehta sold 9,243 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $36.50, for a total value of $337,369.50. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,167,614 shares of company stock worth $1,259,102,436. 0.43% of the stock is currently owned by insiders.

Chewy Stock Performance

Shares of CHWY opened at $40.04 on Wednesday. Chewy has a 52-week low of $19.75 and a 52-week high of $48.62. The business's fifty day moving average is $42.26 and its 200-day moving average is $37.76. The firm has a market cap of $16.63 billion, a price-to-earnings ratio of 44.99, a PEG ratio of 8.56 and a beta of 1.71.

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, beating the consensus estimate of $0.34 by $0.01. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the company posted $0.31 EPS. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, research analysts forecast that Chewy 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.

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