Charles Schwab Investment Management Inc. Grows Stock Holdings in Chewy, Inc. (NYSE:CHWY)

Charles Schwab Investment Management Inc. increased its position in Chewy, Inc. (NYSE:CHWY - Free Report) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 824,824 shares of the company's stock after purchasing an additional 46,629 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.20% of Chewy worth $24,159,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CHWY. 1620 Investment Advisors Inc. bought a new position in shares of Chewy during the 2nd quarter worth $33,000. Blue Trust Inc. grew its holdings in Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company's stock worth $38,000 after acquiring an additional 905 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Chewy during the 2nd quarter valued at about $44,000. First Horizon Advisors Inc. bought a new stake in shares of Chewy in the 2nd quarter valued at about $48,000. Finally, Skylands Capital LLC bought a new position in shares of Chewy during the second quarter valued at approximately $52,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Price Performance

CHWY traded up $0.51 on Friday, reaching $31.58. 5,414,163 shares of the company's stock were exchanged, compared to its average volume of 8,618,838. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10. The stock has a market cap of $13.20 billion, a PE ratio of 37.88, a P/E/G ratio of 3.15 and a beta of 1.12. The stock's fifty day moving average price is $30.42 and its 200-day moving average price is $27.06.

Chewy (NYSE:CHWY - Get Free Report) last issued its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The business had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.86 billion. During the same period in the previous year, the firm posted ($0.08) EPS. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts predict that Chewy, Inc. will post 0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Satish Mehta sold 8,056 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.47, for a total transaction of $269,634.32. Following the completion of the sale, the chief technology officer now directly owns 585,962 shares of the company's stock, valued at approximately $19,612,148.14. This trade represents a 1.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The disclosure for this sale can be found here. Insiders sold 28,128,804 shares of company stock valued at $827,019,626 in the last three months. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on CHWY shares. UBS Group lifted their target price on Chewy from $30.00 to $34.00 and gave the company a "neutral" rating in a research note on Tuesday. Evercore ISI upped their target price on Chewy from $22.00 to $29.00 and gave the company an "in-line" rating in a research report on Wednesday, August 28th. Needham & Company LLC restated a "hold" rating on shares of Chewy in a research note on Thursday. Raymond James cut Chewy from an "outperform" rating to a "market perform" rating in a report on Wednesday, August 21st. Finally, Barclays raised their target price on Chewy from $34.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Chewy presently has an average rating of "Moderate Buy" and an average target price of $34.15.

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.