LPL Financial LLC Has $4.37 Million Position in Chewy (NYSE:CHWY)

Key Points

• LPL Financial LLC raised its holdings in Chewy by 11.5%, acquiring an additional 13,818 shares, increasing its total to 134,487 shares valued at approximately $4.37 million.
• Several institutional investors, including D.A. Davidson & CO. and Victory Capital Management Inc., have significantly increased their holdings in Chewy, reflecting growing confidence in the company's stock.
• Despite a large sale of shares by Argos Holdings, Chewy reported strong quarterly earnings with $0.35 earnings per share, surpassing estimates and achieving a revenue of $3.12 billion for the quarter.

LPL Financial LLC boosted its stake in shares of Chewy (NYSE:CHWY - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,487 shares of the company's stock after purchasing an additional 13,818 shares during the quarter. LPL Financial LLC's holdings in Chewy were worth $4,372,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CHWY. Parallel Advisors LLC grew its holdings in shares of Chewy by 150.2% in the 1st quarter. Parallel Advisors LLC now owns 788 shares of the company's stock worth $26,000 after purchasing an additional 473 shares during the last quarter. Banque Transatlantique SA bought a new stake in shares of Chewy in the 4th quarter worth about $30,000. Golden State Wealth Management LLC grew its holdings in shares of Chewy by 104.6% in the 1st quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock worth $31,000 after purchasing an additional 481 shares during the last quarter. North Star Investment Management Corp. grew its holdings in shares of Chewy by 26.6% in the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock worth $55,000 after purchasing an additional 353 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Chewy by 225.7% in the 1st quarter. UMB Bank n.a. now owns 1,866 shares of the company's stock worth $61,000 after purchasing an additional 1,293 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Stock Up 4.0%

Shares of Chewy stock traded up $1.55 during trading on Friday, reaching $40.49. The company's stock had a trading volume of 8,694,184 shares, compared to its average volume of 6,145,767. The business's 50-day moving average price is $39.42 and its 200-day moving average price is $37.95. The firm has a market cap of $16.81 billion, a PE ratio of 45.49, a P/E/G ratio of 8.45 and a beta of 1.67. Chewy has a 52 week low of $25.19 and a 52 week high of $48.62.

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 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 business had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.08 billion. During the same quarter in the prior year, the business posted $0.31 earnings per share. Chewy's revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that Chewy will post 0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CHWY. Cowen reissued a "buy" rating on shares of Chewy in a report on Friday, June 6th. JMP Securities increased their price objective on shares of Chewy from $39.00 to $48.00 and gave the stock a "market outperform" rating in a report on Thursday, July 10th. Mizuho lowered shares of Chewy from an "outperform" rating to a "neutral" rating and increased their price objective for the stock from $43.00 to $47.00 in a report on Monday, June 9th. Citizens Jmp raised shares of Chewy to a "strong-buy" rating in a report on Thursday, July 10th. Finally, Citigroup reissued an "outperform" rating on shares of Chewy in a report on Thursday, July 10th. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $43.78.

Insider Activity

In related news, CTO Satish Mehta sold 8,727 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $35.82, for a total transaction of $312,601.14. Following the completion of the sale, the chief technology officer owned 276,467 shares of the company's stock, valued at $9,903,047.94. This represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sumit Singh sold 4,264 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $35.57, for a total value of $151,670.48. Following the transaction, the chief executive officer directly owned 72,549 shares of the company's stock, valued at approximately $2,580,567.93. The trade was a 5.55% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,008,777 shares of company stock worth $1,252,444,321. 0.43% of the stock is owned by company insiders.

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.