Mutual of America Capital Management LLC Makes New $2.92 Million Investment in Chewy, Inc. (NYSE:CHWY)

Mutual of America Capital Management LLC purchased a new stake in Chewy, Inc. (NYSE:CHWY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 87,047 shares of the company's stock, valued at approximately $2,915,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its stake in Chewy by 281.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 38,398 shares of the company's stock worth $1,125,000 after buying an additional 28,337 shares during the last quarter. Radnor Capital Management LLC acquired a new stake in shares of Chewy in the third quarter valued at approximately $442,000. Principal Financial Group Inc. grew its position in shares of Chewy by 0.7% during the third quarter. Principal Financial Group Inc. now owns 531,709 shares of the company's stock worth $15,574,000 after acquiring an additional 3,814 shares during the last quarter. Washington Trust Advisors Inc. increased its holdings in shares of Chewy by 0.3% in the 3rd quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company's stock valued at $8,156,000 after acquiring an additional 923 shares during the period. Finally, Assetmark Inc. raised its position in Chewy by 29.0% in the 3rd quarter. Assetmark Inc. now owns 59,593 shares of the company's stock valued at $1,745,000 after purchasing an additional 13,395 shares during the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chewy

In other Chewy news, CTO Satish Mehta sold 83,639 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were 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 of the company's stock, valued at $13,368,720. This trade represents a 20.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sumit Singh sold 4,000 shares of Chewy stock in a transaction on Friday, January 17th. The shares were sold at an average price of $37.52, for a total value of $150,080.00. Following the completion of the sale, the chief executive officer now directly owns 518,581 shares of the company's stock, valued at approximately $19,457,159.12. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,624,736 shares of company stock valued at $936,145,808. Insiders own 2.10% of the company's stock.

Chewy Trading Down 4.7 %

Shares of CHWY stock traded down $1.56 during mid-day trading on Monday, reaching $31.76. The stock had a trading volume of 7,138,634 shares, compared to its average volume of 4,955,290. The company has a market cap of $12.93 billion, a P/E ratio of 34.90, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.09. The business has a 50-day simple moving average of $36.76 and a 200 day simple moving average of $32.66.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Piper Sandler raised their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an "overweight" rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. raised their price target on Chewy from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Bank of America raised Chewy from an "underperform" rating to a "buy" rating and upped their price objective for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. Wolfe Research upgraded Chewy from a "peer perform" rating to an "outperform" rating in a research note on Friday, January 3rd. Finally, Argus upgraded Chewy from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.30.

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.