1620 Investment Advisors Inc. Buys New Stake in Chewy, Inc. (NYSE:CHWY)

1620 Investment Advisors Inc. acquired a new position in Chewy, Inc. (NYSE:CHWY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,226 shares of the company’s stock, valued at approximately $33,000.

Other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. purchased a new stake in Chewy in the 2nd quarter worth about $48,000. Quest Partners LLC purchased a new position in Chewy during the 4th quarter valued at $65,000. Future Financial Wealth Managment LLC purchased a new stake in Chewy in the first quarter worth $65,000. EntryPoint Capital LLC lifted its position in shares of Chewy by 18.0% during the first quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock worth $65,000 after purchasing an additional 619 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Chewy by 37.8% in the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after purchasing an additional 922 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the transaction, the chief executive officer now owns 1,398,271 shares of the company’s stock, valued at approximately $31,097,547.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $28.49, for a total transaction of $499,999,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 14,338 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the sale, the chief executive officer now directly owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,906,141 shares of company stock valued at $540,973,233. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on CHWY. Mizuho raised their price target on Chewy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, June 10th. Piper Sandler upped their price objective on Chewy from $16.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Guggenheim lifted their target price on Chewy from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Wolfe Research began coverage on shares of Chewy in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Chewy from $22.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.86.

Chewy Trading Down 2.8 %

CHWY stock traded down $0.77 during midday trading on Thursday, reaching $26.33. The stock had a trading volume of 3,240,388 shares, compared to its average volume of 9,616,091. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $39.10. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 146.28, a price-to-earnings-growth ratio of 3.48 and a beta of 1.03. The company’s fifty day simple moving average is $25.36 and its 200 day simple moving average is $20.12.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.11. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. Sell-side analysts predict that Chewy, Inc. will post 0.23 EPS for the current year.

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.