Chewy, Inc. (NYSE:CHWY) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its holdings in shares of Chewy, Inc. (NYSE:CHWY) by 3.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 26,112 shares of the company’s stock after selling 932 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Chewy were worth $765,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BC Partners Advisors L.P. purchased a new position in Chewy during the 2nd quarter worth approximately $7,517,800,000. Bank of New York Mellon Corp lifted its holdings in shares of Chewy by 7.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,553,104 shares of the company’s stock valued at $96,787,000 after buying an additional 258,502 shares during the period. Marshall Wace LLP lifted its holdings in shares of Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after buying an additional 2,636,526 shares during the period. Renaissance Technologies LLC raised its holdings in Chewy by 8.7% during the second quarter. Renaissance Technologies LLC now owns 2,521,755 shares of the company’s stock worth $68,693,000 after purchasing an additional 200,900 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in Chewy by 97.9% during the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after purchasing an additional 975,647 shares during the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CHWY. JPMorgan Chase & Co. raised their price target on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and upped their target price for the company from $28.00 to $40.00 in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. Evercore ISI upped their price objective on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Finally, TD Cowen assumed coverage on shares of Chewy in a research report on Wednesday, October 9th. They set a “buy” rating and a $38.00 target price for the company. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.15.

Chewy Stock Performance

CHWY stock opened at $32.26 on Friday. The stock has a market capitalization of $13.49 billion, a price-to-earnings ratio of 35.45, a PEG ratio of 4.28 and a beta of 1.12. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10. The stock’s fifty day moving average is $30.73 and its two-hundred day moving average is $27.70.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted ($0.08) earnings per share. As a group, analysts predict that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling at Chewy

In related news, CTO Satish Mehta sold 8,056 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the transaction, the chief technology officer now owns 585,962 shares in the company, valued at $19,612,148.14. This trade represents a 1.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,956,046 shares of company stock worth $1,448,008,845. 2.10% of the stock is owned by insiders.

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.