Cambridge Investment Research Advisors Inc. Reduces Stock Holdings in Chewy (NYSE:CHWY)

Cambridge Investment Research Advisors Inc. reduced its position in shares of Chewy (NYSE:CHWY - Free Report) by 27.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,052 shares of the company's stock after selling 21,058 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Chewy were worth $1,790,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Mutual of America Capital Management LLC acquired a new position in Chewy during the fourth quarter worth about $2,915,000. Raymond James Financial Inc. acquired a new stake in Chewy in the 4th quarter valued at about $69,789,000. Polar Asset Management Partners Inc. lifted its stake in Chewy by 26.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company's stock worth $9,670,000 after purchasing an additional 60,533 shares in the last quarter. Interval Partners LP acquired a new position in shares of Chewy during the 4th quarter worth approximately $1,536,000. Finally, Vanguard Group Inc. grew its position 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. Institutional investors and hedge funds own 93.09% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on CHWY shares. Cowen restated a "buy" rating on shares of Chewy in a report on Friday, June 6th. Morgan Stanley reissued an "overweight" rating and set a $50.00 price target (up previously from $39.00) on shares of Chewy in a research report on Thursday, June 12th. Evercore ISI set a $52.00 price objective on shares of Chewy and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Wall Street Zen downgraded shares of Chewy from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Citigroup reissued a "buy" rating and issued a $49.00 price target (up previously from $42.00) on shares of Chewy in a research note 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 data from MarketBeat.com, Chewy currently has an average rating of "Moderate Buy" and an average target price of $43.39.

Insider Buying and Selling

In other news, CTO Satish Mehta sold 9,243 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was 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. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David Reeder sold 11,582 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $36.44, for a total transaction of $422,048.08. Following the completion of the sale, the chief financial officer directly owned 397,556 shares in the company, valued at approximately $14,486,940.64. This trade represents a 2.83% 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 owned by corporate insiders.

Chewy Trading Up 0.5%

CHWY traded up $0.19 during trading hours on Friday, hitting $41.17. 3,655,551 shares of the company's stock were exchanged, compared to its average volume of 6,231,787. The firm has a market cap of $17.09 billion, a P/E ratio of 46.26, a price-to-earnings-growth ratio of 8.62 and a beta of 1.71. Chewy has a 12-month low of $19.75 and a 12-month high of $48.62. The firm has a 50 day moving average of $42.12 and a 200 day moving average of $37.61.

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

About Chewy

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.