Legacy Capital Group California Inc. Buys New Stake in Chewy, Inc. (NYSE:CHWY)

Legacy Capital Group California Inc. acquired a new position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 36,586 shares of the company's stock, valued at approximately $1,072,000.

A number of other hedge funds have also modified their holdings of CHWY. 1620 Investment Advisors Inc. purchased a new stake in shares of Chewy in the 2nd quarter valued at approximately $33,000. Blue Trust Inc. lifted its holdings in shares of Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company's stock valued at $38,000 after purchasing an additional 905 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Chewy in the second quarter worth $44,000. First Horizon Advisors Inc. purchased a new position in shares of Chewy during the second quarter valued at $48,000. Finally, Skylands Capital LLC acquired a new position in Chewy during the second quarter valued at $52,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Sumit Singh sold 14,338 shares of the company's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the transaction, the chief executive officer now directly owns 1,398,271 shares in the company, valued at $31,097,547.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sumit Singh sold 14,338 shares of Chewy stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the sale, the chief executive officer now directly owns 1,398,271 shares of the company's stock, valued at $31,097,547.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Satish Mehta sold 2,894 shares of the company's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $64,362.56. Following the completion of the transaction, the chief technology officer now directly owns 573,463 shares of the company's stock, valued at approximately $12,753,817.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,138,627 shares of company stock valued at $827,147,620 in the last three months. Company insiders own 2.10% of the company's stock.

Chewy Trading Down 0.5 %

CHWY traded down $0.14 during trading on Friday, hitting $26.95. The stock had a trading volume of 2,523,711 shares, compared to its average volume of 8,965,392. The firm has a market cap of $11.72 billion, a PE ratio of 151.33, a P/E/G ratio of 3.04 and a beta of 1.05. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10. The company has a 50 day simple moving average of $28.69 and a 200-day simple moving average of $23.88.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. As a group, sell-side analysts anticipate that Chewy, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup raised their price objective on Chewy from $16.00 to $28.00 and gave the stock a "neutral" rating in a research report on Friday, July 19th. Raymond James downgraded shares of Chewy from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 21st. Piper Sandler reiterated an "overweight" rating and issued a $35.00 price objective on shares of Chewy in a research note on Friday, September 20th. Guggenheim lifted their target price on shares of Chewy from $25.00 to $32.00 and gave the company a "buy" rating in a research note on Friday, June 28th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $35.00 price target on shares of Chewy in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $29.55.

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.