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

Bank of New York Mellon Corp lessened its stake in Chewy (NYSE:CHWY - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 1.06% of Chewy worth $141,986,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in Chewy by 150.2% in the 1st quarter. Parallel Advisors LLC now owns 788 shares of the company's stock valued at $26,000 after buying an additional 473 shares during the period. Banque Transatlantique SA acquired a new position in Chewy in the 4th quarter valued at approximately $30,000. Golden State Wealth Management LLC increased its stake in Chewy by 104.6% in the 1st quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after buying an additional 481 shares during the period. North Star Investment Management Corp. increased its stake in Chewy by 26.6% in the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock valued at $55,000 after buying an additional 353 shares during the period. Finally, UMB Bank n.a. increased its stake in Chewy by 225.7% in the 1st quarter. UMB Bank n.a. now owns 1,866 shares of the company's stock valued at $61,000 after buying an additional 1,293 shares during the period. Institutional investors and hedge funds own 93.09% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Cowen reiterated a "buy" rating on shares of Chewy in a research note on Friday, June 6th. The Goldman Sachs Group increased their price target on shares of Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Morgan Stanley restated an "overweight" rating and set a $50.00 price target (up previously from $39.00) on shares of Chewy in a research note on Thursday, June 12th. Barclays increased their price target on shares of Chewy from $44.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. Finally, Wedbush restated an "outperform" rating and set a $39.00 price target on shares of Chewy in a research note on Thursday, March 27th. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.89.

Insider Activity at Chewy

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

Chewy Stock Down 2.1%

Chewy stock traded down $0.80 during mid-day trading on Friday, reaching $37.97. The company had a trading volume of 5,233,880 shares, compared to its average volume of 6,163,311. Chewy has a 52 week low of $19.75 and a 52 week high of $48.62. The company has a 50 day moving average of $42.36 and a 200-day moving average of $37.81. The firm has a market cap of $15.77 billion, a price-to-earnings ratio of 42.66, a PEG ratio of 7.93 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 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 during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the firm earned $0.31 EPS. The business's revenue was up 6.3% on a year-over-year basis. On average, analysts predict that Chewy will post 0.24 earnings per share 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.