Bank of New York Mellon Corp Has $141.99 Million Position in Chewy (NYSE:CHWY)

Bank of New York Mellon Corp cut its stake in shares of Chewy (NYSE:CHWY) by 2.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 4,367,460 shares of the company’s stock after selling 121,777 shares during the quarter. Bank of New York Mellon Corp’s holdings in Chewy were worth $141,986,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Polar Asset Management Partners Inc. lifted its holdings in Chewy by 26.5% during the 4th quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company’s stock worth $9,670,000 after buying an additional 60,533 shares during the period. Interval Partners LP acquired a new position in Chewy during the 4th quarter worth about $1,536,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Chewy during the 1st quarter worth about $11,326,000. Vanguard Group Inc. lifted its holdings in Chewy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock worth $485,093,000 after buying an additional 3,493,926 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in Chewy during the 1st quarter worth about $1,045,000. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Stock Performance

CHWY stock opened at $40.04 on Wednesday. The stock’s 50 day simple moving average is $42.26 and its 200 day simple moving average is $37.76. The company has a market cap of $16.63 billion, a P/E ratio of 44.99, a price-to-earnings-growth ratio of 8.56 and a beta of 1.71. Chewy has a fifty-two week low of $19.75 and a fifty-two week high of $48.62.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm 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 for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS. Equities analysts predict that Chewy will post 0.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

CHWY has been the topic of several recent research reports. Evercore ISI set a $52.00 target price on Chewy and gave the stock an “outperform” rating in a report on Thursday, June 12th. Citigroup reissued a “buy” rating and issued a $49.00 price objective (up from $42.00) on shares of Chewy in a research note on Thursday, June 12th. JMP Securities dropped their price objective on Chewy from $40.00 to $39.00 and set a “market outperform” rating on the stock in a research note on Monday, April 14th. Seaport Res Ptn raised Chewy to a “hold” rating in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Chewy from $36.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, June 12th. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.39.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 148,063 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.67, for a total transaction of $6,021,722.21. Following the completion of the sale, the chief executive officer directly owned 705,252 shares of the company’s stock, valued at approximately $28,682,598.84. The trade was a 17.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David Reeder sold 11,582 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $36.44, for a total value of $422,048.08. Following the sale, the chief financial officer directly owned 397,556 shares of the company’s stock, valued at $14,486,940.64. This represents a 2.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,167,614 shares of company stock valued at $1,259,102,436. Company insiders own 0.43% of the company’s stock.

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.