Evolution Wealth Advisors LLC purchased a new position in Chewy Inc (NYSE:CHWY) in the third quarter, HoldingsChannel reports. The fund purchased 1,673 shares of the company’s stock, valued at approximately $92,000.
Several other large investors also recently modified their holdings of the stock. Morgan Stanley lifted its holdings in Chewy by 1.6% in the first quarter. Morgan Stanley now owns 13,004,412 shares of the company’s stock worth $487,536,000 after purchasing an additional 204,180 shares during the period. Vanguard Group Inc. boosted its position in Chewy by 27.2% during the second quarter. Vanguard Group Inc. now owns 5,083,587 shares of the company’s stock worth $227,185,000 after purchasing an additional 1,085,663 shares during the period. Clearbridge Investments LLC boosted its position in shares of Chewy by 79.3% in the first quarter. Clearbridge Investments LLC now owns 2,296,139 shares of the company’s stock valued at $86,082,000 after acquiring an additional 1,015,193 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Chewy by 7.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,150,000 shares of the company’s stock valued at $96,084,000 after acquiring an additional 150,000 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Chewy by 146.8% in the second quarter. Bank of America Corp DE now owns 1,340,892 shares of the company’s stock valued at $59,924,000 after acquiring an additional 797,563 shares during the period. Institutional investors and hedge funds own 99.32% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Cleveland Research assumed coverage on Chewy in a research report on Wednesday, July 15th. They issued a “buy” rating and a $60.00 price objective for the company. Morgan Stanley upped their target price on Chewy from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, September 11th. JPMorgan Chase & Co. upped their target price on Chewy from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, September 11th. Jefferies Financial Group upped their target price on Chewy from $59.00 to $100.00 in a research note on Friday. Finally, Wells Fargo & Company upped their target price on Chewy from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Chewy presently has a consensus rating of “Buy” and a consensus price target of $62.13.
Shares of CHWY stock opened at $67.24 on Friday. The stock’s fifty day moving average is $58.37 and its 200-day moving average is $49.35. The stock has a market capitalization of $27.34 billion, a PE ratio of -122.25 and a beta of -0.05. Chewy Inc has a 52 week low of $20.62 and a 52 week high of $74.84.
Chewy (NYSE:CHWY) last announced its earnings results on Thursday, September 10th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.07. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.64 billion. Chewy’s revenue for the quarter was up 47.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.21) EPS. Equities research analysts forecast that Chewy Inc will post -0.36 earnings per share for the current year.
Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company provides pet food, pet products, pet medications, and other pet health products for dogs, cats, fish, birds, small pets, horses, and reptiles through its chewy.com retail Website, as well as its mobile applications.
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