Russell Investments Group Ltd. Boosts Stock Holdings in Chewy, Inc. (NYSE:CHWY)

Russell Investments Group Ltd. grew its stake in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 287.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 333,758 shares of the company's stock after purchasing an additional 247,645 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of Chewy worth $11,232,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CHWY. Fifth Third Bancorp increased its holdings in Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company's stock valued at $33,000 after buying an additional 444 shares during the last quarter. Blue Trust Inc. lifted its holdings in Chewy by 22.9% in the fourth 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. Allworth Financial LP increased its position in shares of Chewy by 52.0% during the 4th 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. Wilmington Savings Fund Society FSB bought a new stake in shares of Chewy in the 3rd quarter worth approximately $63,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Chewy during the fourth quarter worth $86,000. Hedge funds and other institutional investors own 93.09% of the company's stock.

Insider Activity at Chewy

In related news, CFO David Reeder sold 307,558 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $37.48, for a total value of $11,527,273.84. Following the completion of the sale, the chief financial officer now owns 546,257 shares of the company's stock, valued at $20,473,712.36. This trade represents a 36.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sumit Singh sold 114,130 shares of Chewy stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $37.70, for a total transaction of $4,302,701.00. Following the completion of the sale, the chief executive officer now owns 529,809 shares in the company, valued at approximately $19,973,799.30. This trade represents a 17.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 669,433 shares of company stock worth $25,205,364 in the last ninety days. 2.10% of the stock is owned by company insiders.

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Chewy Stock Performance

Chewy stock traded down $0.38 during mid-day trading on Monday, reaching $34.28. The company's stock had a trading volume of 6,588,076 shares, compared to its average volume of 7,457,506. The firm's fifty day moving average price is $34.54 and its two-hundred day moving average price is $33.38. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.09. The company has a market capitalization of $14.18 billion, a P/E ratio of 37.67, a PEG ratio of 2.21 and a beta of 1.68.

Chewy (NYSE:CHWY - Get Free Report) last issued 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 business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. Chewy's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 earnings per share. On average, research analysts predict that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on CHWY shares. Wolfe Research raised shares of Chewy from a "peer perform" rating to an "outperform" rating in a research report on Friday, January 3rd. Wedbush reissued an "outperform" rating and issued a $39.00 price objective on shares of Chewy in a research note on Thursday, March 27th. Barclays lifted their price objective on Chewy from $40.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Needham & Company LLC reiterated a "hold" rating on shares of Chewy in a research report on Thursday, March 27th. Finally, Seaport Res Ptn upgraded shares of Chewy to a "hold" rating in a report on Monday, March 24th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $38.58.

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.