Bank of Nova Scotia Has $33.31 Million Holdings in Chewy $CHWY

Bank of Nova Scotia trimmed its position in shares of Chewy (NYSE:CHWY) by 14.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,233,759 shares of the company’s stock after selling 212,882 shares during the quarter. Bank of Nova Scotia’s holdings in Chewy were worth $33,311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CHWY. Lido Advisors LLC bought a new stake in Chewy during the 1st quarter worth approximately $242,000. Cetera Investment Advisers increased its stake in shares of Chewy by 20.3% in the first quarter. Cetera Investment Advisers now owns 85,758 shares of the company’s stock valued at $2,315,000 after buying an additional 14,450 shares in the last quarter. Militia Capital Management LLC bought a new position in shares of Chewy in the first quarter valued at about $828,000. Earned Wealth Advisors LLC bought a new position in shares of Chewy in the first quarter valued at about $380,000. Finally, Dimensional Fund Advisors LP lifted its position in Chewy by 49.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,739,267 shares of the company’s stock worth $46,942,000 after buying an additional 578,801 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CHWY shares. Citigroup restated a “market outperform” rating on shares of Chewy in a research report on Thursday, June 11th. Barclays reduced their target price on shares of Chewy from $40.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday, June 11th. Wall Street Zen cut shares of Chewy from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley lowered their price target on shares of Chewy from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Chewy from $45.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.05.

Insider Transactions at Chewy

In other news, CEO Sumit Singh sold 83,306 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $25.60, for a total transaction of $2,132,633.60. Following the completion of the transaction, the chief executive officer directly owned 874,061 shares in the company, valued at $22,375,961.60. This represents a 8.70% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $19.49, for a total value of $81,916.47. Following the completion of the transaction, the general counsel owned 4,103 shares of the company’s stock, valued at $79,967.47. The trade was a 50.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 91,729 shares of company stock valued at $2,322,582. Company insiders own 0.34% of the company’s stock.

Chewy Trading Up 2.1%

Shares of CHWY opened at $20.89 on Friday. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 1.03 and a beta of 1.45. Chewy has a 12 month low of $17.40 and a 12 month high of $43.50. The firm has a fifty day simple moving average of $20.28 and a 200 day simple moving average of $24.65.

About Chewy

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.