Chewy $CHWY Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in Chewy (NYSE:CHWY) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,252,907 shares of the company’s stock after selling 83,722 shares during the quarter. Bank of New York Mellon Corp’s holdings in Chewy were worth $114,828,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. National Bank of Canada FI boosted its stake in shares of Chewy by 12.5% during the 3rd quarter. National Bank of Canada FI now owns 2,910 shares of the company’s stock valued at $118,000 after buying an additional 324 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in Chewy by 4.4% in the fourth quarter. 180 Wealth Advisors LLC now owns 9,222 shares of the company’s stock valued at $305,000 after acquiring an additional 390 shares in the last quarter. Dynasty Wealth Management LLC raised its holdings in Chewy by 6.6% in the fourth quarter. Dynasty Wealth Management LLC now owns 6,321 shares of the company’s stock valued at $209,000 after acquiring an additional 394 shares in the last quarter. Harbour Investments Inc. boosted its stake in Chewy by 81.4% during the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock valued at $30,000 after acquiring an additional 407 shares during the last quarter. Finally, waypoint wealth counsel boosted its stake in Chewy by 3.8% during the 4th quarter. waypoint wealth counsel now owns 11,220 shares of the company’s stock valued at $371,000 after acquiring an additional 415 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Price Performance

CHWY opened at $21.98 on Tuesday. The stock’s 50 day moving average price is $20.34 and its 200 day moving average price is $24.94. The stock has a market cap of $9.00 billion, a P/E ratio of 36.64, a P/E/G ratio of 1.06 and a beta of 1.45. Chewy has a 12 month low of $17.40 and a 12 month high of $43.50.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group decreased their price target on Chewy from $32.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Piper Sandler set a $30.00 price objective on Chewy in a research note on Wednesday, June 10th. Wolfe Research reiterated an “outperform” rating and issued a $27.00 price target on shares of Chewy in a report on Thursday, June 11th. Wedbush lowered their price target on Chewy from $42.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday, March 26th. Finally, Guggenheim reissued a “buy” rating and set a $45.00 price target on shares of Chewy in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chewy has an average rating of “Moderate Buy” and a consensus target price of $32.05.

Insider Activity at Chewy

In related news, CEO Sumit Singh sold 4,220 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $25.60, for a total transaction of $108,032.00. Following the completion of the sale, the chief executive officer directly owned 123,955 shares of the company’s stock, valued at $3,173,248. This represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Da-Wai Hu sold 4,203 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $19.49, for a total value of $81,916.47. Following the sale, the general counsel owned 4,103 shares of the company’s stock, valued at $79,967.47. This trade represents a 50.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 91,729 shares of company stock worth $2,322,582. 0.34% of the stock is owned by corporate insiders.

Chewy Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.