Moran Wealth Management LLC Makes New $1.74 Million Investment in Chewy (NYSE:CHWY)

Moran Wealth Management LLC purchased a new stake in shares of Chewy (NYSE:CHWY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 53,430 shares of the company's stock, valued at approximately $1,737,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its position in shares of Chewy by 29.1% in the fourth quarter. Sanctuary Advisors LLC now owns 24,801 shares of the company's stock valued at $831,000 after purchasing an additional 5,592 shares during the period. Wealthspire Advisors LLC acquired a new stake in shares of Chewy in the fourth quarter valued at about $209,000. Bank of New York Mellon Corp grew its position in shares of Chewy by 9.8% in the fourth quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company's stock valued at $150,345,000 after purchasing an additional 399,330 shares during the period. Amalgamated Bank acquired a new stake in shares of Chewy in the fourth quarter valued at about $2,343,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Chewy in the fourth quarter valued at about $1,202,000. Institutional investors and hedge funds own 93.09% of the company's stock.

Chewy Stock Performance

Shares of Chewy stock traded down $0.61 on Friday, reaching $42.82. The company had a trading volume of 25,628,230 shares, compared to its average volume of 6,806,846. The firm's 50 day moving average price is $41.38 and its two-hundred day moving average price is $37.23. The firm has a market cap of $17.78 billion, a PE ratio of 48.12, a PEG ratio of 8.90 and a beta of 1.75. Chewy has a 52-week low of $19.75 and a 52-week high of $48.62.

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

Insider Activity

In related news, CEO Sumit Singh sold 8,552 shares of Chewy stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total value of $285,209.20. Following the completion of the transaction, the chief executive officer now owns 62,096 shares in the company, valued at approximately $2,070,901.60. The trade was a 12.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Satish Mehta sold 9,243 shares of Chewy stock in a transaction that occurred on 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 now owns 276,467 shares of the company's stock, valued at $10,091,045.50. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,176,166 shares of company stock valued at $1,259,387,645. Company insiders own 0.43% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $44.00 target price (up previously from $42.00) on shares of Chewy in a research report on Thursday, June 12th. Seaport Res Ptn upgraded shares of Chewy to a "hold" rating in a research report on Monday, March 24th. Cowen reiterated a "buy" rating on shares of Chewy in a research report on Friday, June 6th. JMP Securities lowered their price target on shares of Chewy from $40.00 to $39.00 and set a "market outperform" rating on the stock in a research report on Monday, April 14th. Finally, Needham & Company LLC restated a "hold" rating on shares of Chewy in a research report on Thursday, June 12th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.39.

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.