Summit Investment Advisors Inc. Takes Position in Chewy, Inc. (NYSE:CHWY)

Summit Investment Advisors Inc. acquired a new stake in Chewy, Inc. (NYSE:CHWY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 33,022 shares of the company's stock, valued at approximately $1,106,000.

A number of other institutional investors also recently modified their holdings of CHWY. Fifth Third Bancorp raised its position in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock valued at $33,000 after purchasing an additional 444 shares during the last quarter. Blue Trust Inc. lifted its stake 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 acquiring an additional 320 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Chewy in the third quarter valued at $63,000. Allworth Financial LP increased its position in 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. Finally, Union Bancaire Privee UBP SA bought a new position in Chewy in the 4th quarter worth $86,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chewy

In related news, CEO Sumit Singh sold 9,285 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $371,400.00. Following the transaction, the chief executive officer now directly owns 489,750 shares of the company's stock, valued at approximately $19,590,000. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Satish Mehta sold 71,365 shares of Chewy stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the transaction, the chief technology officer now owns 262,853 shares in the company, valued at $9,357,566.80. This trade represents a 21.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 537,831 shares of company stock worth $20,246,710 in the last quarter. Company insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Seaport Res Ptn upgraded shares of Chewy to a "hold" rating in a report on Monday, March 24th. Deutsche Bank Aktiengesellschaft set a $27.00 price target on Chewy and gave the company a "hold" rating in a research report on Monday, April 14th. Wolfe Research raised Chewy from a "peer perform" rating to an "outperform" rating in a research report on Friday, January 3rd. Morgan Stanley reduced their target price on shares of Chewy from $40.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, JMP Securities lowered their price target on shares of Chewy from $40.00 to $39.00 and set a "market outperform" rating for the company in a research report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Chewy has an average rating of "Moderate Buy" and a consensus price target of $38.47.

Chewy Trading Down 0.3 %

CHWY stock traded down $0.10 on Wednesday, hitting $35.92. The company had a trading volume of 1,833,602 shares, compared to its average volume of 7,390,044. The stock has a market cap of $14.86 billion, a price-to-earnings ratio of 39.47, a P/E/G ratio of 2.21 and a beta of 1.68. The stock's 50-day simple moving average is $34.14 and its 200 day simple moving average is $33.63. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.09.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.03 by $0.25. The company 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 was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 earnings per share. Research analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current year.

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.