B. Riley Wealth Advisors Inc. Trims Stock Holdings in Chewy, Inc. (NYSE:CHWY)

B. Riley Wealth Advisors Inc. decreased its stake in Chewy, Inc. (NYSE:CHWY - Free Report) by 79.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,036 shares of the company's stock after selling 39,321 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Chewy were worth $293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Blue Trust Inc. boosted its stake in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company's stock worth $38,000 after buying an additional 905 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Chewy in the 2nd quarter worth $44,000. Planning Capital Management Corp bought a new stake in Chewy in the third quarter worth $52,000. Skylands Capital LLC purchased a new stake in Chewy during the second quarter valued at about $52,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Chewy during the third quarter valued at about $62,000. Hedge funds and other institutional investors own 93.09% of the company's stock.

Insider Buying and Selling

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $29.40, for a total value of $789,999,991.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Satish Mehta sold 8,056 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the sale, the chief technology officer now directly 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. In the last ninety days, insiders sold 47,956,046 shares of company stock worth $1,448,008,845. 2.10% of the stock is owned by corporate insiders.

Chewy Stock Up 3.8 %

Shares of CHWY stock traded up $1.24 during trading hours on Friday, hitting $33.72. 11,045,779 shares of the company's stock traded hands, compared to its average volume of 8,551,902. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $39.10. The stock has a market cap of $13.77 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 4.28 and a beta of 1.12. The stock's fifty day simple moving average is $31.10 and its two-hundred day simple moving average is $28.17.

Chewy (NYSE:CHWY - Get Free Report) last issued its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.86 billion. During the same period in the previous year, the company earned ($0.08) earnings per share. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CHWY shares. Deutsche Bank Aktiengesellschaft boosted their target price on Chewy from $24.00 to $28.00 and gave the company a "hold" rating in a research note on Friday, November 22nd. Piper Sandler boosted their price objective on Chewy from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Monday, December 2nd. Robert W. Baird lifted their target price on shares of Chewy from $35.00 to $40.00 and gave the stock an "outperform" rating in a research note on Monday, November 25th. Bank of America upgraded shares of Chewy from an "underperform" rating to a "buy" rating and upped their price target for the company from $24.00 to $40.00 in a report on Wednesday, November 20th. Finally, JMP Securities reissued a "market outperform" rating and issued a $37.00 price target on shares of Chewy in a report on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $34.60.

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.