Van ECK Associates Corp Has $4.77 Million Stake in Chewy, Inc. (NYSE:CHWY)

Van ECK Associates Corp grew its holdings in Chewy, Inc. (NYSE:CHWY - Free Report) by 1,391.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,558 shares of the company's stock after purchasing an additional 132,999 shares during the period. Van ECK Associates Corp's holdings in Chewy were worth $4,774,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CHWY. Fifth Third Bancorp lifted its holdings in shares of 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 purchasing an additional 444 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company's stock worth $38,000 after acquiring an additional 905 shares during the last quarter. Planning Capital Management Corp acquired a new position in shares of Chewy in the third quarter worth $52,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Chewy in the third quarter worth $63,000. Finally, Castleview Partners LLC acquired a new position in shares of Chewy in the third quarter worth $76,000. Hedge funds and other institutional investors own 93.09% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Chewy from $35.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Chewy from $24.00 to $28.00 and gave the stock a "hold" rating in a research note on Friday, November 22nd. Citigroup raised shares of Chewy from a "neutral" rating to a "buy" rating and upped their price target for the stock from $28.00 to $40.00 in a research note on Friday, November 8th. Barclays upped their price target on shares of Chewy from $34.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, November 18th. Finally, UBS Group increased their target price on shares of Chewy from $30.00 to $34.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $36.80.

Chewy Price Performance

Shares of NYSE CHWY traded down $1.90 during mid-day trading on Friday, hitting $35.03. The company had a trading volume of 4,883,716 shares, compared to its average volume of 4,702,419. The business's 50-day simple moving average is $36.40 and its 200-day simple moving average is $31.75. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09. The firm has a market cap of $14.26 billion, a P/E ratio of 38.49, a PEG ratio of 2.25 and a beta of 1.10.

Chewy (NYSE:CHWY - Get Free Report) last released its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.86 billion. During the same quarter last year, the company earned ($0.08) earnings per share. The firm's revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Chewy, Inc. will post 0.24 EPS for the current year.

Insider Activity at Chewy

In other Chewy news, CFO David Reeder sold 307,558 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $37.48, for a total transaction of $11,527,273.84. Following the completion of the transaction, the chief financial officer now owns 546,257 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sumit Singh sold 4,000 shares of the firm's 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,561,427 shares of company stock worth $933,874,848. Company 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.