Victory Capital Management Inc. Buys 24,399 Shares of Chewy, Inc. (NYSE:CHWY)

Victory Capital Management Inc. raised its holdings in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 43.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,178 shares of the company's stock after buying an additional 24,399 shares during the period. Victory Capital Management Inc.'s holdings in Chewy were worth $2,685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. 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. raised its position in Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock valued at $58,000 after acquiring an additional 320 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Chewy in the third quarter valued at approximately $63,000. Allworth Financial LP boosted its holdings in Chewy by 52.0% in the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company's stock worth $71,000 after purchasing an additional 650 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Chewy during the fourth quarter worth $86,000. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Stock Up 0.4 %

NYSE:CHWY traded up $0.13 during mid-day trading on Thursday, reaching $32.38. 2,878,743 shares of the company were exchanged, compared to its average volume of 7,647,219. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09. The stock has a market cap of $13.18 billion, a PE ratio of 35.62, a PEG ratio of 2.21 and a beta of 1.23. The company has a fifty day moving average of $36.38 and a 200 day moving average of $32.92.

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Insider Activity

In related news, CEO Sumit Singh sold 571,903 shares of Chewy stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $34.52, for a total value of $19,742,091.56. Following the completion of the sale, the chief executive officer now directly owns 898,222 shares in the company, valued at $31,006,623.44. This trade represents a 38.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the business's stock in a transaction dated 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. Insiders have sold 8,726,333 shares of company stock valued at $312,843,856 over the last three months. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. UBS Group boosted their price target on Chewy from $30.00 to $34.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Royal Bank of Canada boosted their price objective on shares of Chewy from $39.00 to $42.00 and gave the stock an "outperform" rating in a research note on Thursday, December 5th. Bank of America upgraded shares of Chewy from an "underperform" rating to a "buy" rating and raised their target price for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. Mizuho raised shares of Chewy from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $24.00 to $42.00 in a research report on Monday, January 6th. Finally, Evercore ISI raised Chewy from an "in-line" rating to an "outperform" rating and raised their price target for the company from $34.00 to $47.00 in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.30.

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.