Cornerstone Wealth Management LLC Sells 542 Shares of Chewy, Inc. (NYSE:CHWY)

Cornerstone Wealth Management LLC trimmed its stake in shares of Chewy, Inc. (NYSE:CHWY) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,431 shares of the company’s stock after selling 542 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Chewy were worth $818,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after acquiring an additional 2,497,689 shares during the last quarter. Clearbridge Investments LLC acquired a new position in Chewy in the second quarter worth $40,798,000. Eagle Asset Management Inc. grew its holdings in shares of Chewy by 97.9% during the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after purchasing an additional 975,647 shares during the last quarter. AMI Asset Management Corp acquired a new stake in shares of Chewy in the third quarter valued at $17,756,000. Finally, Quadrature Capital Ltd acquired a new position in Chewy during the 3rd quarter worth about $13,699,000. 93.09% of the stock is currently owned by institutional investors.

Insider Transactions at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Satish Mehta sold 8,056 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.47, for a total transaction of $269,634.32. Following the sale, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at $19,612,148.14. This represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,103,513 shares of company stock valued at $916,453,941. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on CHWY. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research report on Thursday, December 5th. TD Cowen initiated coverage on shares of Chewy in a research report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price objective for the company. Robert W. Baird upped their price objective on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Argus raised Chewy from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Wedbush reaffirmed an “outperform” rating and set a $39.00 price target (up previously from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.80.

Chewy Price Performance

Shares of CHWY opened at $39.25 on Friday. The company’s 50-day moving average is $34.48 and its 200-day moving average is $30.05. The firm has a market capitalization of $15.98 billion, a PE ratio of 43.13, a PEG ratio of 4.16 and a beta of 1.10. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $39.60.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the previous year, the company posted ($0.08) EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Chewy Company 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.