The world of finance can be a perplexing landscape, with investors contending with a vast array of data and market movements in their quest for success. HighTower Advisors LLC, one of the industry’s most prominent players, recently filed their Form 13F with the Securities & Exchange Commission, revealing a significant shift in their holdings. The firm decreased its stake in Chewy, Inc. (NYSE:CHWY) by 13.6% during the fourth quarter of last year.
According to the filing, HighTower Advisors LLC sold over six thousand shares during this period. As a result of this move, the company’s total holdings in Chewy now amount to approximately $1.59 million – still a sizable sum by any measure.
This development is worthy of note given Chewy’s status as one of the leading pet e-tailers in America offering customers access to a wide range of pet-related products and services across multiple categories such as food, medications, treats, and other health care essentials.
Chewy’s recent quarterly earnings results were also attention-grabbing for investors who follow the stock closely. The firm announced an impressive EPS figure of $0.04 per share for Q4 2020 – nicely ahead of analysts’ expectations that called for losses on that front – overshadowing any concerns about profitability margins at play within management circles.
Overall revenue figures were healthy at $2.71 billion within this same time frame too – reflecting rising demand for delivering pet products online amidst broad shifts towards more digitally curated purchasing channels driven in part by social distancing considerations related to COVID-19.
The combination of these positive indicators led several experts to predict that Chewy is poised for continued growth throughout this fiscal year and beyond. Analysts are bullish on the stock overall, forecasting EPS projections ranging from $0.02 per share annually over time while keeping an eye on its various category segments where expansion opportunities could further drive market penetration in the coming months and years.
Despite these positive notes, the financial world remains unpredictable, making cautious analysis a necessity for savvy investors. The industry awaits further earnings reports from Chewy and other players in this space with keen interest.
Chewy, Inc: Institutional Investors React to Mixed Analyst Response
Chewy, Inc., the U.S. pet e-tailer founded in 2011 by Ryan Cohen and Michael Day has been making waves in the stock market recently. Institutional investors have been busy either reducing or adding their stakes in CHWY shares. Westpac Banking Corp lifted its stake in shares of Chewy by a massive 480.3% during the third quarter, while Kestra Private Wealth Services LLC lifted its position in the company by 3% during Q4 of last year. Toronto Dominion Bank also increased its stake by a staggering 131.8% during the fourth quarter, while MML Investors Services LLC boosted their shares by almost 10% over the same period.
Chewy’s statistics offer insights into how the company has performed so far this year and how it is expected to perform in future markets. Despite opening at $30.16 on Friday with a one-year low of $22.96 and a one-year high of $52.88 marks, Chewy still boasts an impressive market capitalization of $12.88 billion.
The data indicates that Chewy’s President and CEO, Sumit Singh sold over 21,000 shares on March 2nd this year, totalling more than $847k in revenue from that transaction alone for Chewy’s top boss.
Recently released data reveals that several equity research analysts are keeping an eye on CHWY stock performance and posting mixed responses accordingly. Gordon Haskett initiated coverage on shares of Chewy with a “hold” rating but gave the stock a $46 price target value whereas Deutsche Bank Aktiengesellschaft downgraded Chewy from “buy” to “hold” rating whilst reducing price targets to $35 instead of an earlier mark at $41.
On the other hand, Raymond James upgraded Chewey from “market perform” to “outperform,” providing them with a promising outlook as they offered Buy rating along with a $36 price target. Roth Capital also issued Chewy shares a “buy” rating in their report, while Evercore ISI dropped their price target from $55 to $53 offering an outperform rating for the company.
All these analyses reveal that Chewy’s potential performance is still unpredictable, and the latest moves by institutional investors suggest either caution or confidence. Only time will tell where Chewy will head next regarding investors’ perspectives around the stock market.
Discussion about this post