Charles Schwab Investment Management Inc. Buys 46,629 Shares of Chewy, Inc. (NYSE:CHWY)

Charles Schwab Investment Management Inc. grew its holdings in Chewy, Inc. (NYSE:CHWY) by 6.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 824,824 shares of the company’s stock after buying an additional 46,629 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Chewy were worth $24,159,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. California State Teachers Retirement System grew its position in Chewy by 2.2% during the 1st quarter. California State Teachers Retirement System now owns 108,448 shares of the company’s stock worth $1,725,000 after purchasing an additional 2,321 shares during the last quarter. Cetera Advisors LLC acquired a new position in shares of Chewy in the 1st quarter valued at $334,000. SG Americas Securities LLC lifted its stake in shares of Chewy by 125.6% in the 2nd quarter. SG Americas Securities LLC now owns 94,838 shares of the company’s stock valued at $2,583,000 after purchasing an additional 52,809 shares during the period. Coastline Trust Co acquired a new position in Chewy during the second quarter worth $295,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Chewy by 23.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 23,922 shares of the company’s stock valued at $652,000 after buying an additional 4,613 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.

Insider Buying and Selling at Chewy

In related news, CTO Satish Mehta sold 8,056 shares of Chewy stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.47, for a total transaction of $269,634.32. Following the transaction, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at $19,612,148.14. The trade was a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,128,804 shares of company stock worth $827,019,626. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. TD Cowen assumed coverage on shares of Chewy in a research report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price for the company. Raymond James lowered shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Piper Sandler upped their price objective on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday. UBS Group upped their price objective on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and upped their price objective for the company from $24.00 to $40.00 in a report on Wednesday, November 20th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.15.

Chewy Stock Down 7.2 %

Shares of CHWY opened at $31.07 on Friday. The business’s 50 day moving average is $30.42 and its two-hundred day moving average is $27.06. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $39.10. The firm has a market cap of $12.99 billion, a price-to-earnings ratio of 37.88, a PEG ratio of 3.15 and a beta of 1.12.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.08) EPS. On average, equities analysts expect that Chewy, Inc. will post 0.33 earnings per share for the current fiscal year.

About Chewy

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.