Talon Private Wealth LLC Purchases Shares of 23,405 Chewy $CHWY

Talon Private Wealth LLC acquired a new stake in Chewy (NYSE:CHWY) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 23,405 shares of the company’s stock, valued at approximately $632,000.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of Chewy by 295.9% in the 3rd quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock valued at $712,841,000 after purchasing an additional 13,171,325 shares during the period. Viking Global Investors LP grew its holdings in Chewy by 146.9% during the fourth quarter. Viking Global Investors LP now owns 13,536,645 shares of the company’s stock worth $447,386,000 after purchasing an additional 8,052,955 shares during the period. AQR Capital Management LLC grew its holdings in Chewy by 120.2% during the third quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock worth $407,948,000 after purchasing an additional 5,564,803 shares during the period. Norges Bank acquired a new position in Chewy during the fourth quarter worth approximately $154,647,000. Finally, State Street Corp increased its position in Chewy by 75.5% during the second quarter. State Street Corp now owns 6,170,197 shares of the company’s stock worth $262,974,000 after buying an additional 2,654,496 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Stock Up 1.4%

Shares of NYSE:CHWY opened at $23.25 on Thursday. Chewy has a 12-month low of $17.40 and a 12-month high of $43.50. The business has a 50 day moving average of $20.41 and a 200-day moving average of $24.41. The stock has a market cap of $9.52 billion, a PE ratio of 38.75, a P/E/G ratio of 1.16 and a beta of 1.45.

Insider Activity at Chewy

In other Chewy news, General Counsel Da-Wai Hu sold 4,203 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $19.49, for a total value of $81,916.47. Following the transaction, the general counsel directly owned 4,103 shares of the company’s stock, valued at $79,967.47. This represents a 50.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sumit Singh sold 4,220 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $25.60, for a total value of $108,032.00. Following the transaction, the chief executive officer owned 123,955 shares in the company, valued at $3,173,248. The trade was a 3.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 91,729 shares of company stock valued at $2,322,582. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CHWY. Zacks Research cut Chewy from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 25th. Weiss Ratings downgraded Chewy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Jefferies Financial Group reissued a “hold” rating and set a $23.00 target price on shares of Chewy in a report on Thursday, June 11th. Argus upgraded Chewy to a “strong-buy” rating in a research note on Tuesday, April 7th. Finally, Piper Sandler set a $30.00 price target on Chewy in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chewy has a consensus rating of “Moderate Buy” and an average target price of $32.05.

Chewy Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.