Brendel Financial Advisors LLC Takes Position in Chewy (NYSE:CHWY)

Brendel Financial Advisors LLC purchased a new stake in shares of Chewy (NYSE:CHWY - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 56,285 shares of the company's stock, valued at approximately $1,830,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mutual of America Capital Management LLC acquired a new stake in shares of Chewy during the 4th quarter valued at approximately $2,915,000. Raymond James Financial Inc. purchased a new stake in shares of Chewy in the fourth quarter valued at about $69,789,000. Polar Asset Management Partners Inc. lifted its holdings in shares of Chewy by 26.5% in the fourth quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company's stock valued at $9,670,000 after purchasing an additional 60,533 shares in the last quarter. Interval Partners LP purchased a new stake in shares of Chewy in the fourth quarter valued at about $1,536,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock valued at $485,093,000 after purchasing an additional 3,493,926 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Chewy from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. JPMorgan Chase & Co. upped their price target on shares of Chewy from $36.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Jefferies Financial Group reissued a "hold" rating and set a $43.00 price objective (up previously from $41.00) on shares of Chewy in a research note on Thursday, June 5th. Mizuho downgraded shares of Chewy from an "outperform" rating to a "neutral" rating and upped their price objective for the company from $43.00 to $47.00 in a research note on Monday, June 9th. Finally, Wall Street Zen downgraded shares of Chewy from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Chewy presently has a consensus rating of "Moderate Buy" and an average target price of $43.39.

Chewy Stock Up 0.7%

Shares of Chewy stock traded up $0.28 during trading hours on Friday, hitting $41.83. The company's stock had a trading volume of 12,343,666 shares, compared to its average volume of 6,827,279. Chewy has a 1-year low of $19.75 and a 1-year high of $48.62. The business has a fifty day moving average of $40.71 and a 200 day moving average of $36.94. The company has a market capitalization of $17.37 billion, a PE ratio of 47.00, a P/E/G ratio of 8.59 and a beta of 1.75.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. The business's quarterly revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Transactions at Chewy

In other news, CFO David Reeder sold 11,582 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $36.44, for a total value of $422,048.08. Following the completion of the sale, the chief financial officer now owns 397,556 shares of the company's stock, valued at $14,486,940.64. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sumit Singh sold 148,063 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 705,252 shares of the company's stock, valued at $28,682,598.84. The trade was a 17.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 236,046 shares of company stock valued at $9,387,635 over the last 90 days. Corporate insiders own 0.43% of the company's stock.

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.