Vanguard Group Inc. Increases Stock Holdings in Chewy, Inc. (NYSE:CHWY)

Vanguard Group Inc. lifted its stake in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 31.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,484,717 shares of the company's stock after acquiring an additional 3,493,926 shares during the period. Vanguard Group Inc. owned 3.56% of Chewy worth $485,093,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CHWY. Bank of New York Mellon Corp grew its position in Chewy by 9.8% in the fourth quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company's stock worth $150,345,000 after acquiring an additional 399,330 shares during the period. FMR LLC lifted its stake in shares of Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company's stock valued at $117,023,000 after purchasing an additional 2,497,689 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Chewy during the 4th quarter worth $69,789,000. Allianz Asset Management GmbH increased its position in shares of Chewy by 134.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,620,809 shares of the company's stock worth $54,281,000 after purchasing an additional 929,116 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Chewy by 8.4% in the 3rd 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 and hedge funds own 93.09% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Chewy from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a research report on Thursday, March 27th. JMP Securities reissued a "market outperform" rating and issued a $37.00 target price on shares of Chewy in a research report on Monday, December 16th. Barclays raised their price target on Chewy from $40.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Finally, Mizuho boosted their price objective on Chewy from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Chewy presently has an average rating of "Moderate Buy" and a consensus price target of $38.68.

Chewy Trading Down 6.5 %

NYSE:CHWY traded down $2.19 during trading hours on Friday, hitting $31.48. The company's stock had a trading volume of 9,265,250 shares, compared to its average volume of 7,507,096. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $40.09. The stock has a market capitalization of $12.82 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.21 and a beta of 1.68. The stock has a fifty day moving average of $35.43 and a 200-day moving average of $33.28.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.25. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 EPS. On average, sell-side analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current year.

Insider Activity

In related news, CEO Sumit Singh sold 8,552 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total transaction of $285,209.20. Following the transaction, the chief executive officer now owns 62,096 shares in the company, valued at $2,070,901.60. This trade represents a 12.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of Chewy stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.77, for a total value of $250,390,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,900,725 shares of company stock worth $284,078,033. 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.