Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna Cuts Stake in Chewy $CHWY

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna lessened its stake in shares of Chewy (NYSE:CHWY) by 49.1% during the third quarter, HoldingsChannel reports. The firm owned 25,802 shares of the company’s stock after selling 24,918 shares during the period. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna’s holdings in Chewy were worth $1,044,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Royal Bank of Canada grew its stake in shares of Chewy by 2.5% in the first quarter. Royal Bank of Canada now owns 220,509 shares of the company’s stock valued at $7,168,000 after buying an additional 5,466 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Chewy during the 1st quarter worth approximately $510,000. NewEdge Advisors LLC lifted its position in Chewy by 5,238.3% during the 1st quarter. NewEdge Advisors LLC now owns 32,510 shares of the company’s stock worth $1,057,000 after acquiring an additional 31,901 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Chewy by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,176,138 shares of the company’s stock worth $38,236,000 after acquiring an additional 17,788 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Chewy by 31.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 383,966 shares of the company’s stock worth $12,483,000 after acquiring an additional 92,129 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CHWY shares. UBS Group set a $51.00 price objective on shares of Chewy in a research note on Tuesday, January 13th. Citigroup restated a “market outperform” rating on shares of Chewy in a research note on Monday, November 24th. Barclays lowered their price target on shares of Chewy from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Morgan Stanley dropped their price target on shares of Chewy from $51.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of Chewy from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $45.55.

Chewy Stock Up 3.5%

CHWY stock opened at $25.46 on Friday. The stock’s 50 day moving average is $28.46 and its two-hundred day moving average is $33.31. Chewy has a 52-week low of $23.06 and a 52-week high of $48.62. The company has a market capitalization of $10.57 billion, a PE ratio of 53.04, a P/E/G ratio of 1.66 and a beta of 1.60.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, December 10th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. Chewy had a return on equity of 56.78% and a net margin of 1.64%.The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the business posted $0.20 EPS. The business’s revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Chewy will post 0.24 EPS for the current year.

Insider Activity

In related news, CTO Satish Mehta sold 13,013 shares of Chewy stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $28.99, for a total value of $377,246.87. Following the completion of the sale, the chief technology officer owned 273,835 shares in the company, valued at approximately $7,938,476.65. The trade was a 4.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.43% of the company’s stock.

Chewy Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.