Amalgamated Bank Takes $2.34 Million Position in Chewy, Inc. (NYSE:CHWY)

Amalgamated Bank acquired a new position in Chewy, Inc. (NYSE:CHWY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 69,964 shares of the company's stock, valued at approximately $2,343,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of Chewy by 9.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company's stock valued at $150,345,000 after acquiring an additional 399,330 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Chewy in the 4th quarter valued at approximately $86,000. Wealthspire Advisors LLC bought a new stake in shares of Chewy during the fourth quarter valued at approximately $209,000. Olympiad Research LP acquired a new position in shares of Chewy in the 4th quarter valued at $466,000. Finally, Bradley Foster & Sargent Inc. CT lifted its stake in Chewy by 31.3% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 18,158 shares of the company's stock worth $608,000 after purchasing an additional 4,325 shares during the period. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CHWY. UBS Group increased their price objective on Chewy from $30.00 to $34.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Piper Sandler upped their price objective 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. Argus upgraded Chewy from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. Evercore ISI upgraded Chewy from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $34.00 to $47.00 in a research report on Monday, January 13th. Finally, JMP Securities reissued a "market outperform" rating and issued a $37.00 price objective on shares of Chewy in a research note on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Chewy currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.30.

Remove Ads

Insider Buying and Selling at Chewy

In related news, CTO Satish Mehta sold 168,105 shares of Chewy stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $36.32, for a total value of $6,105,573.60. Following the completion of the transaction, the chief technology officer now owns 417,857 shares in the company, valued at approximately $15,176,566.24. This trade represents a 28.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the stock in a transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 28,553,371 shares of company stock worth $933,605,214. 2.10% of the stock is owned by corporate insiders.

Chewy Trading Down 4.7 %

Shares of NYSE:CHWY traded down $1.73 during trading on Thursday, reaching $35.15. The company had a trading volume of 2,134,239 shares, compared to its average volume of 4,750,334. The company has a fifty day moving average of $36.75 and a two-hundred day moving average of $32.52. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09. The stock has a market capitalization of $14.31 billion, a P/E ratio of 38.64, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23.

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

Chewy 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.