Integrated Wealth Concepts LLC Purchases New Shares in Chewy, Inc. (NYSE:CHWY)

Integrated Wealth Concepts LLC purchased a new position in Chewy, Inc. (NYSE:CHWY) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,169 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of 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 in the last quarter. Washington Trust Advisors Inc. raised its stake in Chewy by 0.3% during the third quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock valued at $8,156,000 after buying an additional 923 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Chewy by 10.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock worth $308,000 after acquiring an additional 1,029 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Chewy in the second quarter worth $33,000. Finally, D.A. Davidson & CO. increased its holdings in shares of Chewy by 5.0% during the third quarter. D.A. Davidson & CO. now owns 26,219 shares of the company’s stock valued at $768,000 after acquiring an additional 1,244 shares in the last quarter. Institutional investors own 93.09% of the company’s stock.

Chewy Stock Performance

NYSE CHWY opened at $32.26 on Friday. The business’s fifty day moving average is $30.73 and its 200 day moving average is $27.70. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $39.10. The company has a market capitalization of $13.49 billion, a PE ratio of 35.45, a price-to-earnings-growth ratio of 4.28 and a beta of 1.12.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The firm 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 business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) EPS. On average, sell-side analysts forecast that Chewy, Inc. will post 0.24 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction on Friday, December 13th. The shares were sold at an average price of $31.32, for a total transaction of $620,989,219.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 sale, the chief technology officer now owns 585,962 shares of the company’s stock, valued at $19,612,148.14. The trade was a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,956,046 shares of company stock worth $1,448,008,845 over the last three months. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CHWY shares. Morgan Stanley upped their price target on shares of Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Royal Bank of Canada upped their target price on shares of Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Piper Sandler raised their price target on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Barclays upped their price objective on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.15.

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.