Charles Schwab Investment Management Inc. boosted its holdings in Chewy, Inc. (NYSE:CHWY - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 970,228 shares of the company's stock after buying an additional 145,404 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.24% of Chewy worth $32,493,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Michigan Retirement System bought a new position in shares of Chewy during the 4th quarter valued at $1,306,000. Steward Partners Investment Advisory LLC increased its position in shares of Chewy by 86.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,953 shares of the company's stock valued at $199,000 after purchasing an additional 2,753 shares during the last quarter. Plato Investment Management Ltd lifted its stake in shares of Chewy by 140.1% in the 4th quarter. Plato Investment Management Ltd now owns 13,969 shares of the company's stock worth $470,000 after purchasing an additional 8,150 shares during the period. SBI Securities Co. Ltd. bought a new stake in Chewy during the fourth quarter valued at approximately $121,000. Finally, Jones Financial Companies Lllp increased its holdings in Chewy by 7.6% during the fourth quarter. Jones Financial Companies Lllp now owns 13,478 shares of the company's stock valued at $451,000 after buying an additional 951 shares during the last quarter. Institutional investors own 93.09% of the company's stock.
Analysts Set New Price Targets
CHWY has been the subject of several analyst reports. Morgan Stanley upped their price objective on Chewy from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Bank of America upgraded Chewy from an "underperform" rating to a "buy" rating and boosted their price objective for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. raised their target price 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. 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. Finally, Wolfe Research upgraded shares of Chewy from a "peer perform" rating to an "outperform" rating in a research note on Friday, January 3rd. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $37.30.
Check Out Our Latest Report on CHWY
Insiders Place Their Bets
In other Chewy news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.77, for a total transaction of $250,390,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sumit Singh sold 571,903 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $34.52, for a total value of $19,742,091.56. Following the completion of the sale, the chief executive officer now owns 898,222 shares in the company, valued at approximately $31,006,623.44. The trade was a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,726,333 shares of company stock valued at $312,843,856 over the last three months. 2.10% of the stock is owned by company insiders.
Chewy Price Performance
Shares of Chewy stock traded up $0.12 on Thursday, reaching $32.37. The company had a trading volume of 2,878,743 shares, compared to its average volume of 7,646,413. The firm's 50-day moving average price is $36.38 and its two-hundred day moving average price is $32.92. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $40.09. The firm has a market cap of $13.18 billion, a price-to-earnings ratio of 35.62, a P/E/G ratio of 2.21 and a beta of 1.23.
Chewy Profile
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Free Report)
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.
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