Talon Private Wealth LLC Makes New $632,000 Investment in Chewy $CHWY

Talon Private Wealth LLC bought a new position in shares of Chewy (NYSE:CHWY) during the 1st quarter, Holdings Channel.com reports. The fund bought 23,405 shares of the company’s stock, valued at approximately $632,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHWY. Vanguard Group Inc. boosted its stake in shares of Chewy by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 19,920,347 shares of the company’s stock valued at $658,367,000 after buying an additional 1,017,214 shares during the period. Wellington Management Group LLP increased its stake in Chewy by 295.9% during the 3rd quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock worth $712,841,000 after acquiring an additional 13,171,325 shares during the period. Viking Global Investors LP increased its stake in Chewy by 146.9% during the 4th quarter. Viking Global Investors LP now owns 13,536,645 shares of the company’s stock worth $447,386,000 after acquiring an additional 8,052,955 shares during the period. AQR Capital Management LLC raised its holdings in Chewy by 10.0% in the 4th quarter. AQR Capital Management LLC now owns 11,218,840 shares of the company’s stock valued at $370,558,000 after acquiring an additional 1,022,694 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Chewy by 33.8% in the 4th quarter. Morgan Stanley now owns 7,660,258 shares of the company’s stock valued at $253,172,000 after acquiring an additional 1,937,014 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CHWY has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their target price on Chewy from $46.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, June 12th. Jefferies Financial Group restated a “hold” rating and issued a $23.00 price target on shares of Chewy in a research report on Thursday, June 11th. Barclays dropped their price target on Chewy from $40.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, June 11th. Wolfe Research reaffirmed an “outperform” rating and set a $27.00 price objective on shares of Chewy in a research report on Thursday, June 11th. Finally, Weiss Ratings downgraded shares of Chewy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.05.

Chewy Price Performance

NYSE CHWY opened at $23.25 on Thursday. The business has a fifty day moving average price of $20.41 and a two-hundred day moving average price of $24.41. The stock has a market capitalization of $9.52 billion, a PE ratio of 38.75, a PEG ratio of 1.16 and a beta of 1.45. Chewy has a fifty-two week low of $17.40 and a fifty-two week high of $43.50.

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 83,306 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $25.60, for a total transaction of $2,132,633.60. Following the completion of the transaction, the chief executive officer owned 874,061 shares of the company’s stock, valued at approximately $22,375,961.60. The trade was a 8.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Da-Wai Hu sold 4,203 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $19.49, for a total value of $81,916.47. Following the sale, the general counsel owned 4,103 shares of the company’s stock, valued at approximately $79,967.47. This represents a 50.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 91,729 shares of company stock worth $2,322,582. Corporate insiders own 0.34% of the company’s stock.

About Chewy

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.