Janney Montgomery Scott LLC Grows Holdings in Chewy, Inc. (NYSE:CHWY)

Janney Montgomery Scott LLC increased its position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 281.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,398 shares of the company's stock after acquiring an additional 28,337 shares during the period. Janney Montgomery Scott LLC's holdings in Chewy were worth $1,125,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. BC Partners Advisors L.P. bought a new position in shares of Chewy during the second quarter valued at $7,517,800,000. Marshall Wace LLP raised its position in Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company's stock worth $78,801,000 after purchasing an additional 2,636,526 shares during the last quarter. Fiera Capital Corp acquired a new position in Chewy during the 2nd quarter worth about $44,373,000. Clearbridge Investments LLC bought a new stake in shares of Chewy in the 2nd quarter valued at about $40,798,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Chewy by 127.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company's stock valued at $27,328,000 after buying an additional 963,540 shares during the period. Institutional investors and hedge funds own 93.09% of the company's stock.

Insider Activity

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the business's stock in a transaction on 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.10% of the company's stock.

Chewy Price Performance

Shares of NYSE:CHWY traded down $0.68 during midday trading on Friday, hitting $31.71. 3,682,846 shares of the company's stock were exchanged, compared to its average volume of 8,799,760. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10. The company has a market cap of $13.26 billion, a PE ratio of 38.67, a price-to-earnings-growth ratio of 3.27 and a beta of 1.06. The stock has a 50 day moving average price of $29.46 and a 200-day moving average price of $25.41.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. On average, analysts anticipate that Chewy, Inc. will post 0.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. UBS Group lifted their price objective on Chewy from $21.00 to $30.00 and gave the stock a "neutral" rating in a research note on Thursday, August 29th. Citigroup raised shares of Chewy from a "neutral" rating to a "buy" rating and upped their price objective for the company from $28.00 to $40.00 in a research note on Friday, November 8th. Robert W. Baird lifted their target price on shares of Chewy from $26.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 20th. Piper Sandler restated an "overweight" rating and issued a $35.00 target price on shares of Chewy in a report on Friday, September 20th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Chewy in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Chewy presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.15.

Chewy Company 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.