Sei Investments Co. Takes $2.53 Million Position in Chewy, Inc. (NYSE:CHWY)

Sei Investments Co. bought a new stake in shares of Chewy, Inc. (NYSE:CHWY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 75,634 shares of the company's stock, valued at approximately $2,533,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of Chewy by 9.8% during the fourth quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company's stock valued at $150,345,000 after acquiring an additional 399,330 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Chewy in the 4th quarter valued at $69,789,000. Allianz Asset Management GmbH lifted its holdings in Chewy by 134.3% in the 4th quarter. Allianz Asset Management GmbH now owns 1,620,809 shares of the company's stock valued at $54,281,000 after purchasing an additional 929,116 shares in the last quarter. Geode Capital Management LLC boosted its stake in Chewy by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company's stock worth $45,443,000 after purchasing an additional 119,633 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Chewy during the fourth quarter worth $46,003,000. Institutional investors and hedge funds own 93.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays boosted their price target on shares of Chewy from $40.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. dropped their price target on Chewy from $40.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday. Needham & Company LLC reiterated a "hold" rating on shares of Chewy in a research report on Thursday, March 27th. Guggenheim set a $42.00 price objective on Chewy and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley raised their target price on Chewy from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.47.

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Chewy Trading Up 6.4 %

CHWY traded up $2.00 during mid-day trading on Wednesday, hitting $33.21. 11,610,251 shares of the stock were exchanged, compared to its average volume of 7,523,961. The firm's fifty day moving average is $34.73 and its two-hundred day moving average is $33.30. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09. The company has a market cap of $13.74 billion, a PE ratio of 36.49, 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.25. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business 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 company earned $0.07 earnings per share. The business's quarterly revenue was up 15.0% on a year-over-year basis. As a group, research analysts anticipate that Chewy, Inc. will post 0.24 earnings per share for the current year.

Insiders Place Their Bets

In other Chewy news, CTO Satish Mehta sold 168,105 shares of the business's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $36.32, for a total transaction of $6,105,573.60. Following the completion of the transaction, the chief technology officer now owns 417,857 shares in the company, valued at $15,176,566.24. The trade was a 28.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sumit Singh sold 8,552 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total transaction of $285,209.20. Following the completion of the sale, the chief executive officer now owns 62,096 shares in the company, valued at $2,070,901.60. The trade was a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 837,538 shares of company stock worth $31,310,938 over the last 90 days. Corporate insiders own 2.10% of the company's stock.

Chewy Company 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.