Norges Bank Invests $3.01 Million in Chewy, Inc. (NYSE:CHWY)

Norges Bank acquired a new stake in shares of Chewy, Inc. (NYSE:CHWY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 89,793 shares of the company's stock, valued at approximately $3,007,000.

Several other large investors have also added to or reduced their stakes in CHWY. Janus Henderson Group PLC grew its stake in shares of Chewy by 98.2% during the 3rd quarter. Janus Henderson Group PLC now owns 118,300 shares of the company's stock worth $3,466,000 after acquiring an additional 58,600 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Chewy during the 3rd quarter valued at $210,000. Stifel Financial Corp grew its stake in Chewy by 5.6% during the third quarter. Stifel Financial Corp now owns 378,339 shares of the company's stock valued at $11,082,000 after acquiring an additional 19,938 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Chewy by 22.0% during the 3rd quarter. Wellington Management Group LLP now owns 921,741 shares of the company's stock valued at $26,998,000 after purchasing an additional 166,187 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company's stock valued at $45,443,000 after buying an additional 119,633 shares during the period. Institutional investors own 93.09% of the company's stock.

Insider Activity

In related news, CEO Sumit Singh sold 4,000 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $37.52, for a total transaction of $150,080.00. Following the transaction, the chief executive officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of the 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 sale, the chief technology officer now directly owns 262,853 shares in the company, valued at $9,357,566.80. This represents a 21.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 669,433 shares of company stock valued at $25,205,364 in the last 90 days. Company insiders own 2.10% of the company's stock.

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Chewy Trading Down 1.1 %

CHWY traded down $0.38 during midday trading on Monday, hitting $34.28. 6,588,076 shares of the company traded hands, compared to its average volume of 7,457,504. The company has a market capitalization of $14.18 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 2.21 and a beta of 1.68. The business has a 50 day simple moving average of $34.54 and a two-hundred day simple moving average of $33.38. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $40.09.

Chewy (NYSE:CHWY - Get Free Report) last announced its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.25. The company had revenue of $3.25 billion for the quarter, compared to analysts' expectations of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm's quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 EPS. Equities research analysts anticipate that Chewy, Inc. will post 0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Argus raised shares of Chewy from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Guggenheim set a $42.00 price target on Chewy and gave the company a "buy" rating in a research report on Tuesday, February 4th. Morgan Stanley raised their target price on shares of Chewy from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Royal Bank of Canada reissued an "outperform" rating and issued a $42.00 target price on shares of Chewy in a research report on Thursday, March 27th. Finally, Seaport Res Ptn raised shares of Chewy to a "hold" rating in a research report on Monday, March 24th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $38.58.

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.