Pembroke Management LTD Makes New $11.85 Million Investment in Chewy, Inc. (NYSE:CHWY)

Pembroke Management LTD acquired a new position in Chewy, Inc. (NYSE:CHWY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 353,741 shares of the company's stock, valued at approximately $11,847,000. Pembroke Management LTD owned approximately 0.09% of Chewy at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Chewy by 1.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company's stock worth $661,000 after purchasing an additional 301 shares in the last quarter. Blue Trust Inc. raised its holdings in 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 purchasing an additional 320 shares in the last quarter. Fifth Third Bancorp raised its holdings in Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after purchasing an additional 444 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in Chewy by 30.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company's stock worth $94,000 after purchasing an additional 650 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of Chewy by 52.0% in the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company's stock worth $71,000 after acquiring an additional 650 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors.

Chewy Stock Down 5.2 %

Shares of NYSE CHWY traded down $1.90 during trading on Friday, reaching $35.03. 4,884,222 shares of the company traded hands, compared to its average volume of 4,702,458. The firm has a 50 day simple moving average of $36.45 and a 200-day simple moving average of $31.84. The stock has a market capitalization of $14.26 billion, a PE ratio of 38.49, a P/E/G ratio of 2.25 and a beta of 1.10. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $40.09.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.15. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.08) EPS. As a group, research analysts predict that Chewy, Inc. will post 0.24 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on CHWY shares. Citigroup upgraded shares of Chewy from a "neutral" rating to a "buy" rating and increased their price target for the stock from $28.00 to $40.00 in a research note on Friday, November 8th. Piper Sandler increased their price target on shares of Chewy from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, December 2nd. Bank of America upgraded shares of Chewy from an "underperform" rating to a "buy" rating and increased their price target for the stock from $24.00 to $40.00 in a research note on Wednesday, November 20th. Wedbush reiterated an "outperform" rating and issued a $39.00 price target (up from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of Chewy from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, Chewy currently has a consensus rating of "Moderate Buy" and an average target price of $36.80.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $31.32, for a total value of $620,989,219.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sumit Singh sold 71,161 shares of the firm's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the transaction, the chief executive officer now directly owns 77,838 shares in the company, valued at approximately $2,529,735. The trade was a 47.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,561,427 shares of company stock valued at $933,874,848 in the last 90 days. 2.10% of the stock is currently owned by insiders.

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.