Legal & General Group Plc Increases Stake in Chewy, Inc. (NYSE:CHWY)

Legal & General Group Plc boosted its position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 49.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 231,978 shares of the company's stock after buying an additional 76,836 shares during the period. Legal & General Group Plc owned approximately 0.06% of Chewy worth $7,769,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Chewy by 1.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company's stock valued at $661,000 after purchasing an additional 301 shares in the last quarter. Blue Trust Inc. grew its position in shares of Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock worth $58,000 after buying an additional 320 shares during the period. Fifth Third Bancorp grew its position in shares of Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after buying an additional 444 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Chewy by 8.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company's stock valued at $189,000 after acquiring an additional 450 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in Chewy by 30.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company's stock worth $94,000 after acquiring an additional 650 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on CHWY. Evercore ISI upgraded shares of Chewy from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $34.00 to $47.00 in a report on Monday, January 13th. Seaport Res Ptn raised Chewy to a "hold" rating in a research note on Monday, March 24th. Needham & Company LLC reissued a "hold" rating on shares of Chewy in a research note on Thursday, March 27th. Guggenheim set a $42.00 target price on Chewy and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft set a $27.00 price objective on shares of Chewy and gave the company a "hold" rating in a report on Monday, April 14th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $38.47.

Insider Transactions at Chewy

In related news, CTO Satish Mehta sold 83,639 shares of the business's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total transaction of $3,345,560.00. Following the sale, the chief technology officer now directly owns 334,218 shares in the company, valued at approximately $13,368,720. The trade was a 20.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 8,552 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total value of $285,209.20. Following the sale, the chief executive officer now owns 62,096 shares in the company, valued at approximately $2,070,901.60. This represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 537,831 shares of company stock worth $20,246,710 over the last quarter. Corporate insiders own 2.10% of the company's stock.

Chewy Trading Down 1.8 %

Shares of NYSE:CHWY traded down $0.64 during mid-day trading on Wednesday, reaching $35.38. The company had a trading volume of 4,620,019 shares, compared to its average volume of 7,401,178. The company's 50-day moving average price is $34.14 and its 200-day moving average price is $33.63. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09. The firm has a market cap of $14.63 billion, a price-to-earnings ratio of 38.91, a PEG ratio of 2.21 and a beta of 1.68.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $3.25 billion for the quarter, compared to analysts' expectations of $3.20 billion. During the same quarter in the prior year, the firm earned $0.07 EPS. The business's revenue for the quarter was up 15.0% compared to the same quarter last year. On average, research analysts anticipate that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

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.