Baillie Gifford & Co. Lowers Stock Position in Chewy, Inc. (NYSE:CHWY)

Baillie Gifford & Co. cut its holdings in shares of Chewy, Inc. (NYSE:CHWY) by 4.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 18,565,746 shares of the company’s stock after selling 767,327 shares during the quarter. Baillie Gifford & Co.’s holdings in Chewy were worth $543,791,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CHWY. 1620 Investment Advisors Inc. purchased a new position in shares of Chewy during the second quarter worth approximately $33,000. Blue Trust Inc. raised its stake in shares of Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after acquiring an additional 905 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in shares of Chewy during the second quarter worth approximately $44,000. First Horizon Advisors Inc. purchased a new position in shares of Chewy during the second quarter worth approximately $48,000. Finally, Skylands Capital LLC purchased a new position in shares of Chewy during the second quarter worth approximately $52,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is owned by insiders.

Chewy Trading Up 9.3 %

Shares of Chewy stock opened at $33.53 on Tuesday. The firm has a market capitalization of $14.02 billion, a P/E ratio of 40.88, a P/E/G ratio of 3.06 and a beta of 1.06. The business has a fifty day simple moving average of $29.02 and a two-hundred day simple moving average of $25.01. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. Analysts predict that Chewy, Inc. will post 0.32 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Evercore ISI raised their target price on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Bank of America raised their target price on shares of Chewy from $20.00 to $24.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Morgan Stanley raised their target price on shares of Chewy from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Piper Sandler restated an “overweight” rating and issued a $35.00 target price on shares of Chewy in a report on Friday, September 20th. Finally, Raymond James cut shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.15.

Chewy Profile

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.