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

Chewy logo with Retail/Wholesale background

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.

Check Out Our Latest Research Report on CHWY

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

(Free Report)

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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Institutional Ownership by Quarter for Chewy (NYSE:CHWY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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