Clearbridge Investments LLC Increases Stock Position in Chewy, Inc. (NYSE:CHWY)

Clearbridge Investments LLC raised its position in Chewy, Inc. (NYSE:CHWY - Free Report) by 47.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,866,680 shares of the company's stock after buying an additional 1,243,981 shares during the period. Clearbridge Investments LLC owned 0.95% of Chewy worth $129,495,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CHWY. Fifth Third Bancorp raised its stake 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 purchasing an additional 444 shares during the period. Blue Trust Inc. raised its holdings in shares of Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock worth $58,000 after purchasing an additional 320 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Chewy in the third quarter valued at approximately $63,000. Allworth Financial LP grew its holdings in Chewy by 52.0% during the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company's stock valued at $71,000 after purchasing an additional 650 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Chewy in the fourth quarter worth $86,000. Institutional investors own 93.09% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Mizuho increased their price target on Chewy from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Thursday, March 27th. Evercore ISI raised shares of Chewy from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $34.00 to $47.00 in a research report on Monday, January 13th. Wedbush reissued an "outperform" rating and set a $39.00 target price on shares of Chewy in a report on Thursday, March 27th. Citigroup raised their price target on Chewy from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, JMP Securities reiterated a "market outperform" rating and set a $37.00 price objective on shares of Chewy in a research note on Monday, December 16th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Chewy has an average rating of "Moderate Buy" and a consensus price target of $38.68.

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Insiders Place Their Bets

In other news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the firm's stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the completion of the transaction, the chief technology officer now owns 262,853 shares in the company, valued at approximately $9,357,566.80. The trade was a 21.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,083,269 shares of company stock worth $290,611,129. 2.10% of the stock is owned by corporate insiders.

Chewy Price Performance

CHWY traded down $0.64 during midday trading on Thursday, reaching $33.36. 5,524,086 shares of the company's stock traded hands, compared to its average volume of 7,518,533. 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 of $35.68 and a two-hundred day moving average of $33.26. The stock has a market capitalization of $13.58 billion, a price-to-earnings ratio of 36.74, a P/E/G ratio of 2.21 and a beta of 1.23.

Chewy (NYSE:CHWY - Get Free Report) last announced its 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 company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the prior year, the company earned $0.07 earnings per share. The firm's revenue for the quarter was up 15.0% on a year-over-year basis. Sell-side analysts forecast that Chewy, Inc. will post 0.24 EPS 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.