Blume Capital Management Inc. Lowers Stock Holdings in Chewy, Inc. (NYSE:CHWY)

Blume Capital Management Inc. cut its holdings in Chewy, Inc. (NYSE:CHWY) by 2.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 30,265 shares of the company’s stock after selling 900 shares during the period. Blume Capital Management Inc.’s holdings in Chewy were worth $1,014,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp raised its stake in Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares during the period. Planning Capital Management Corp acquired a new stake in shares of Chewy during the 3rd quarter worth $52,000. Blue Trust Inc. raised its position in shares of Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after buying an additional 320 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Chewy in the third quarter valued at $63,000. Finally, Allworth Financial LP grew its position in Chewy by 52.0% during the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after acquiring an additional 650 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Price Performance

Shares of Chewy stock opened at $32.26 on Friday. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09. The company has a market capitalization of $13.13 billion, a P/E ratio of 35.45, a PEG ratio of 2.21 and a beta of 1.23. The business’s fifty day moving average price is $36.67 and its two-hundred day moving average price is $32.74.

Wall Street Analyst Weigh In

CHWY has been the topic of a number of research reports. BNP Paribas downgraded Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Robert W. Baird boosted their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. UBS Group raised their target price on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group raised their price objective on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. raised their target price on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Chewy presently has an average rating of “Moderate Buy” and a consensus target price of $37.30.

Insider Activity at Chewy

In other Chewy news, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the sale, the chief technology officer now directly owns 262,853 shares in the company, valued at approximately $9,357,566.80. The trade was a 21.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 71,161 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the sale, the chief executive officer now directly owns 77,838 shares of the company’s stock, valued at $2,529,735. The trade was a 47.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,797,494 shares of company stock worth $315,156,588 in the last 90 days. Corporate 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.