Legacy Capital Group California Inc. Takes Position in Chewy, Inc. (NYSE:CHWY)

Legacy Capital Group California Inc. acquired a new position in Chewy, Inc. (NYSE:CHWY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 36,586 shares of the company’s stock, valued at approximately $1,072,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CENTRAL TRUST Co lifted its stake in shares of Chewy by 1,021.3% during the 3rd quarter. CENTRAL TRUST Co now owns 2,691 shares of the company’s stock valued at $79,000 after buying an additional 2,451 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Chewy during the 3rd quarter valued at $12,140,000. Castleview Partners LLC purchased a new stake in Chewy during the 3rd quarter worth about $76,000. Blue Trust Inc. boosted its stake in Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares during the period. Finally, Seven Grand Managers LLC purchased a new position in Chewy during the 3rd quarter valued at about $10,252,000. 93.09% of the stock is currently owned by institutional investors.

Chewy Stock Down 1.4 %

NYSE:CHWY opened at $27.08 on Friday. The firm has a market capitalization of $11.78 billion, a P/E ratio of 150.42, a P/E/G ratio of 3.04 and a beta of 1.05. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $39.10. The company has a fifty day moving average of $28.68 and a 200 day moving average of $23.86.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.86 billion. As a group, analysts anticipate that Chewy, Inc. will post 0.32 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CHWY shares. Barclays boosted their price objective on shares of Chewy from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Evercore ISI upped their price target on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Argus lowered Chewy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. raised their price target on Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Raymond James downgraded Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chewy presently has an average rating of “Moderate Buy” and a consensus price target of $29.55.

Insiders Place Their Bets

In related news, CEO Sumit Singh sold 14,338 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $318,877.12. Following the completion of the transaction, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CTO Satish Mehta sold 2,894 shares of Chewy stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $64,362.56. Following the completion of the transaction, the chief technology officer now directly owns 573,463 shares of the company’s stock, valued at $12,753,817.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the sale, the chief executive officer now owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,138,627 shares of company stock worth $827,147,620. 2.10% of the stock is currently owned by corporate insiders.

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.