Moors & Cabot Inc. Has $247,000 Stake in Chewy, Inc. (NYSE:CHWY)

Moors & Cabot Inc. lowered its holdings in Chewy, Inc. (NYSE:CHWY) by 15.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,430 shares of the company’s stock after selling 1,510 shares during the quarter. Moors & Cabot Inc.’s holdings in Chewy were worth $247,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. BC Partners Advisors L.P. acquired a new position in Chewy during the 2nd quarter worth about $7,517,800,000. Marshall Wace LLP raised its stake in shares of Chewy by 1,028.6% in the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after acquiring an additional 2,636,526 shares during the last quarter. Fiera Capital Corp acquired a new position in shares of Chewy during the second quarter worth approximately $44,373,000. Clearbridge Investments LLC acquired a new stake in shares of Chewy in the second quarter valued at approximately $40,798,000. Finally, Vanguard Group Inc. raised its position in Chewy by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 10,480,230 shares of the company’s stock worth $166,740,000 after purchasing an additional 875,532 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total value of $789,999,991.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by insiders.

Chewy Stock Performance

Shares of CHWY opened at $34.89 on Monday. The firm has a market cap of $14.59 billion, a P/E ratio of 42.55, a PEG ratio of 3.46 and a beta of 1.06. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10. The firm’s 50 day moving average price is $29.91 and its two-hundred day moving average price is $26.13.

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

Analysts Set New Price Targets

CHWY has been the topic of a number of recent research reports. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. UBS Group boosted their price objective on Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 target price on shares of Chewy in a research note on Friday, September 20th. Wedbush reissued an “outperform” rating and set a $35.00 price target on shares of Chewy in a research note on Thursday, August 29th. Finally, Evercore ISI increased their price objective on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.65.

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.