Archford Capital Strategies LLC Makes New $676,000 Investment in Chewy (NYSE:CHWY)

Archford Capital Strategies LLC acquired a new position in Chewy (NYSE:CHWY) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 20,801 shares of the company’s stock, valued at approximately $676,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. North Star Investment Management Corp. lifted its position in shares of Chewy by 26.6% in the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company’s stock worth $55,000 after purchasing an additional 353 shares during the period. Park Avenue Securities LLC lifted its holdings in Chewy by 5.3% during the first quarter. Park Avenue Securities LLC now owns 7,281 shares of the company’s stock worth $237,000 after buying an additional 364 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Chewy by 8.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company’s stock worth $189,000 after buying an additional 450 shares during the period. Parallel Advisors LLC lifted its holdings in Chewy by 150.2% during the first quarter. Parallel Advisors LLC now owns 788 shares of the company’s stock worth $26,000 after buying an additional 473 shares during the period. Finally, Snowden Capital Advisors LLC lifted its holdings in Chewy by 4.2% during the fourth quarter. Snowden Capital Advisors LLC now owns 16,442 shares of the company’s stock worth $551,000 after buying an additional 669 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Price Performance

Shares of Chewy stock opened at $42.62 on Thursday. The firm has a fifty day moving average price of $41.21 and a 200 day moving average price of $37.14. Chewy has a 1 year low of $19.75 and a 1 year high of $48.62. The stock has a market cap of $17.70 billion, a PE ratio of 47.89, a price-to-earnings-growth ratio of 8.90 and a beta of 1.75.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.08 billion. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. As a group, equities analysts expect that Chewy will post 0.24 EPS for the current year.

Insider Activity at Chewy

In other Chewy news, CEO Sumit Singh sold 8,552 shares of Chewy stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total value of $285,209.20. Following the completion of the transaction, the chief executive officer now owns 62,096 shares of the company’s stock, valued at approximately $2,070,901.60. The trade was a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Reeder sold 11,582 shares of Chewy stock in a transaction on Monday, May 5th. The shares were sold at an average price of $36.44, for a total transaction of $422,048.08. Following the completion of the transaction, the chief financial officer now directly owns 397,556 shares of the company’s stock, valued at $14,486,940.64. The trade was a 2.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 236,046 shares of company stock worth $9,387,635. 0.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CHWY shares. Royal Bank Of Canada restated an “outperform” rating and set a $44.00 price objective (up from $42.00) on shares of Chewy in a research note on Thursday, June 12th. Wall Street Zen lowered shares of Chewy from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Citigroup reissued a “buy” rating and set a $49.00 price target (up from $42.00) on shares of Chewy in a research report on Thursday, June 12th. Guggenheim reissued a “buy” rating and set a $45.00 target price (up previously from $42.00) on shares of Chewy in a research report on Thursday, June 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Chewy from $36.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, June 12th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Chewy currently has an average rating of “Moderate Buy” and an average target price of $43.39.

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.