Planning Capital Management Corp Acquires New Shares in Chewy, Inc. (NYSE:CHWY)

Planning Capital Management Corp bought a new position in Chewy, Inc. (NYSE:CHWY) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,785 shares of the company’s stock, valued at approximately $52,000.

Other large investors have also recently bought and sold shares of the company. BC Partners Advisors L.P. bought a new position in Chewy in the 2nd quarter valued at approximately $7,517,800,000. Marshall Wace LLP lifted its holdings in shares of Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after purchasing an additional 2,636,526 shares during the period. Fiera Capital Corp bought a new stake in shares of Chewy in the second quarter worth $44,373,000. Clearbridge Investments LLC acquired a new stake in Chewy in the second quarter valued at $40,798,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Chewy by 127.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock worth $27,328,000 after buying an additional 963,540 shares during the period. 93.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup raised Chewy from a “neutral” rating to a “buy” rating and increased their price target for the company from $28.00 to $40.00 in a research note on Friday, November 8th. Royal Bank of Canada boosted their price target on shares of Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Robert W. Baird increased their price objective on shares of Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Raymond James lowered shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.15.

Chewy Stock Down 1.0 %

CHWY stock opened at $32.40 on Friday. The firm has a market capitalization of $13.55 billion, a PE ratio of 39.51, a P/E/G ratio of 3.29 and a beta of 1.06. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10. The stock’s 50 day moving average is $29.23 and its 200-day moving average is $25.18.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.86 billion. On average, equities research analysts anticipate that Chewy, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.10% 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.