Stifel Financial Corp Increases Position in Chewy, Inc. (NYSE:CHWY)

Stifel Financial Corp boosted its holdings in Chewy, Inc. (NYSE:CHWY - Free Report) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 378,339 shares of the company's stock after buying an additional 19,938 shares during the quarter. Stifel Financial Corp owned 0.09% of Chewy worth $11,082,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CHWY. 1620 Investment Advisors Inc. bought a new stake in shares of Chewy in the second quarter worth $33,000. Blue Trust Inc. grew its stake in shares of Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company's stock valued at $38,000 after purchasing an additional 905 shares during the period. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Chewy during the 2nd quarter valued at about $44,000. First Horizon Advisors Inc. bought a new position in shares of Chewy in the 2nd quarter worth approximately $48,000. Finally, Skylands Capital LLC purchased a new position in shares of Chewy in the second quarter worth approximately $52,000. Institutional investors own 93.09% of the company's stock.

Insider Activity at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Satish Mehta sold 8,056 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the sale, the chief technology officer now owns 585,962 shares in the company, 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. Over the last ninety days, insiders sold 28,128,804 shares of company stock valued at $827,019,626. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Royal Bank of Canada increased their price target on shares of Chewy from $39.00 to $42.00 and gave the stock an "outperform" rating in a research report on Thursday, December 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a report on Thursday, December 5th. Robert W. Baird boosted their price target on Chewy from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Monday, November 25th. Wedbush reaffirmed an "outperform" rating and issued a $39.00 price objective (up previously from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Finally, BNP Paribas downgraded Chewy from an "outperform" rating to a "neutral" rating in a research note on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Chewy has an average rating of "Moderate Buy" and an average target price of $34.15.

Chewy Stock Performance

Shares of CHWY traded down $0.68 during midday trading on Thursday, hitting $31.86. 16,985,413 shares of the company traded hands, compared to its average volume of 8,618,237. The stock has a market cap of $13.32 billion, a price-to-earnings ratio of 35.01, a PEG ratio of 2.95 and a beta of 1.12. The firm has a 50 day moving average of $30.60 and a 200-day moving average of $27.56. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $39.10.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period in the prior year, the company earned ($0.08) earnings per share. The firm's revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that Chewy, Inc. will post 0.34 earnings per share for the current fiscal year.

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.