Penserra Capital Management LLC Reduces Stake in Chewy, Inc. (NYSE:CHWY)

Penserra Capital Management LLC cut its stake in Chewy, Inc. (NYSE:CHWY) by 18.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 223,340 shares of the company’s stock after selling 51,528 shares during the quarter. Penserra Capital Management LLC’s holdings in Chewy were worth $6,540,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. 1620 Investment Advisors Inc. purchased a new stake in shares of Chewy in the second quarter valued at about $33,000. Blue Trust Inc. raised its stake in 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 purchasing an additional 905 shares during the period. Industrial Alliance Investment Management Inc. acquired a new position in Chewy in the 2nd quarter valued at about $44,000. First Horizon Advisors Inc. purchased a new stake in shares of Chewy in the 2nd quarter valued at approximately $48,000. Finally, Skylands Capital LLC acquired a new stake in shares of Chewy during the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Stock Performance

Shares of CHWY opened at $34.89 on Monday. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10. The stock has a market capitalization of $14.59 billion, a PE ratio of 42.55, a PEG ratio of 3.46 and a beta of 1.06. The stock has a 50-day simple moving average of $29.91 and a 200-day simple moving average of $26.13.

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

Insider Buying and Selling

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CHWY. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $24.00 to $40.00 in a research report on Wednesday, November 20th. Royal Bank of Canada upped their price target on Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Barclays raised their price objective on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Robert W. Baird upped their target price on shares of Chewy from $26.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Finally, Raymond James cut shares of Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.65.

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.