Bank of New York Mellon Corp Grows Position in Chewy, Inc. (NYSE:CHWY)

Bank of New York Mellon Corp raised its position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 9.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,489,237 shares of the company's stock after buying an additional 399,330 shares during the quarter. Bank of New York Mellon Corp owned about 1.10% of Chewy worth $150,345,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company's stock valued at $117,023,000 after buying an additional 2,497,689 shares during the period. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Chewy by 5.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company's stock worth $81,014,000 after acquiring an additional 138,768 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company's stock worth $60,485,000 after purchasing an additional 975,647 shares during the period. Allianz Asset Management GmbH grew its holdings in Chewy by 134.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,620,809 shares of the company's stock valued at $54,281,000 after purchasing an additional 929,116 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Chewy by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company's stock worth $45,443,000 after purchasing an additional 119,633 shares during the period. Institutional investors own 93.09% of the company's stock.

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Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business's 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sumit Singh sold 71,161 shares of Chewy stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the sale, the chief executive officer now owns 77,838 shares in the company, valued at approximately $2,529,735. This trade represents a 47.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,553,371 shares of company stock worth $933,605,214. 2.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CHWY has been the subject of several recent analyst reports. Wolfe Research upgraded Chewy from a "peer perform" rating to an "outperform" rating in a research report on Friday, January 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a research report on Thursday, December 5th. Bank of America upgraded Chewy from an "underperform" rating to a "buy" rating and lifted their target price for the stock from $24.00 to $40.00 in a research report on Wednesday, November 20th. Wedbush reissued an "outperform" rating and set a $39.00 target price (up from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $37.00 price target 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 issued a buy rating to the stock. According to data from MarketBeat, Chewy has a consensus rating of "Moderate Buy" and a consensus price target of $37.30.

Chewy Stock Down 3.3 %

Shares of NYSE:CHWY traded down $1.20 during trading on Tuesday, hitting $34.70. The stock had a trading volume of 5,425,810 shares, compared to its average volume of 4,672,905. The stock has a market capitalization of $14.13 billion, a price-to-earnings ratio of 38.19, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10. The stock has a 50-day simple moving average of $36.73 and a two-hundred day simple moving average of $32.44. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.09.

Chewy (NYSE:CHWY - Get Free Report) last issued its earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping 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 return on equity of 24.47% and a net margin of 3.51%. The company's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) earnings per share. As a group, sell-side analysts forecast 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.