Birch Hill Investment Advisors LLC Acquires New Shares in Chewy, Inc. (NYSE:CHWY)

Birch Hill Investment Advisors LLC purchased a new position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 35,050 shares of the company's stock, valued at approximately $1,174,000.

Other large investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in Chewy by 1.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company's stock valued at $661,000 after buying an additional 301 shares in the last quarter. Blue Trust Inc. grew its position in Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock worth $58,000 after acquiring an additional 320 shares in the last quarter. Fifth Third Bancorp grew its position in Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after acquiring an additional 444 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in Chewy by 30.2% in the fourth 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 during the last quarter. Finally, Washington Trust Advisors Inc. lifted its stake in Chewy by 0.3% in the third quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company's stock worth $8,156,000 after purchasing an additional 923 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Stock Up 0.9 %

Shares of Chewy stock traded up $0.33 on Wednesday, hitting $37.56. The company's stock had a trading volume of 2,843,258 shares, compared to its average volume of 4,861,501. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $40.09. The firm has a fifty day moving average price of $35.59 and a 200-day moving average price of $31.18. The company has a market capitalization of $15.29 billion, a P/E ratio of 41.27, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10.

Chewy (NYSE:CHWY - Get Free Report) last released its 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 company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) EPS. As a group, analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current year.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 57,432 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $37.90, for a total value of $2,176,672.80. Following the sale, the chief executive officer now directly owns 877,704 shares in the company, valued at approximately $33,264,981.60. This trade represents a 6.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David Reeder sold 307,558 shares of Chewy stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $37.48, for a total value of $11,527,273.84. Following the transaction, the chief financial officer now directly owns 546,257 shares in the company, valued at approximately $20,473,712.36. The trade was a 36.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,561,427 shares of company stock valued at $933,874,848. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wolfe Research raised shares of Chewy from a "peer perform" rating to an "outperform" rating in a research note on Friday, January 3rd. Wedbush reiterated an "outperform" rating and set a $39.00 price target (up previously from $35.00) on shares of Chewy in a report on Thursday, December 5th. Evercore ISI upgraded shares of Chewy from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $34.00 to $47.00 in a research report on Monday, January 13th. Argus upgraded shares of Chewy from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. Finally, Mizuho raised shares of Chewy from a "neutral" rating to an "outperform" rating and raised their target price for the company from $24.00 to $42.00 in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Chewy has an average rating of "Moderate Buy" and an average price target of $36.80.

About Chewy

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.