Chewy $CHWY Shares Sold by Kestra Investment Management LLC

Kestra Investment Management LLC trimmed its holdings in Chewy (NYSE:CHWY) by 55.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,661 shares of the company’s stock after selling 81,445 shares during the quarter. Kestra Investment Management LLC’s holdings in Chewy were worth $1,213,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of America Corp DE grew its position in shares of Chewy by 12.7% in the first quarter. Bank of America Corp DE now owns 4,816,924 shares of the company’s stock valued at $130,057,000 after purchasing an additional 542,298 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Chewy by 49.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,739,267 shares of the company’s stock worth $46,942,000 after buying an additional 578,801 shares in the last quarter. Amundi lifted its position in Chewy by 191.8% during the first quarter. Amundi now owns 1,466,126 shares of the company’s stock worth $39,584,000 after buying an additional 963,750 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Chewy by 0.5% during the first quarter. The Manufacturers Life Insurance Company now owns 839,927 shares of the company’s stock worth $22,678,000 after buying an additional 3,942 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Chewy by 11.1% during the first quarter. Principal Financial Group Inc. now owns 535,915 shares of the company’s stock worth $14,470,000 after buying an additional 53,586 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Sumit Singh sold 23,002 shares of Chewy stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $21.40, for a total value of $492,242.80. Following the completion of the sale, the chief executive officer directly owned 899,118 shares of the company’s stock, valued at approximately $19,241,125.20. The trade was a 2.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO William G. Billings sold 17,283 shares of Chewy stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $21.00, for a total value of $362,943.00. Following the completion of the sale, the chief accounting officer directly owned 39,772 shares of the company’s stock, valued at $835,212. The trade was a 30.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 48,328 shares of company stock worth $1,035,010 over the last 90 days. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. cut Chewy from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $29.00 to $24.00 in a report on Friday, September 11th. Mizuho reduced their price target on Chewy from $32.00 to $28.00 and set an “outperform” rating on the stock in a report on Tuesday, September 29th. The Goldman Sachs Group reduced their price target on Chewy from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, September 11th. Morgan Stanley lowered their price target on shares of Chewy from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday, September 10th. Finally, Weiss Ratings raised shares of Chewy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.45.

Chewy Price Performance

Chewy stock opened at $22.78 on Wednesday. The company’s 50 day simple moving average is $20.79 and its 200-day simple moving average is $23.00. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 0.96 and a beta of 1.33. Chewy has a 1 year low of $17.40 and a 1 year high of $37.34. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.42 and a current ratio of 0.84.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.18. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Chewy had a net margin of 2.09% and a return on equity of 60.88%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $0.33 EPS. As a group, equities research analysts expect that Chewy will post 0.76 earnings per share for the current year.

Chewy Profile

Chewy, Inc. is an online retailer focused on pet food, supplies and related services. Through its website and mobile app, the company sells products for dogs, cats and other pets, including food, treats, toys, bedding and grooming supplies. Chewy also offers pet medications and health products through Chewy Pharmacy, along with services such as veterinary care. Its business combines product sales with services designed to support pet owners throughout their pets’ lives. Founded in 2011, Chewy primarily serves customers in the United States.