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

Vanguard Group Inc. lifted its stake in Chewy, Inc. (NYSE:CHWY) by 31.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,484,717 shares of the company’s stock after purchasing an additional 3,493,926 shares during the period. Vanguard Group Inc.’s holdings in Chewy were worth $485,093,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHWY. Fifth Third Bancorp raised its holdings in shares of Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after acquiring an additional 444 shares during the period. Blue Trust Inc. boosted its holdings in Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Chewy during the 3rd quarter worth approximately $63,000. Allworth Financial LP raised its position in shares of 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 buying an additional 650 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in Chewy in the fourth quarter valued at approximately $86,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Insider Buying and Selling

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Satish Mehta sold 71,365 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the transaction, the chief technology officer now owns 262,853 shares in the company, valued at approximately $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 8,083,269 shares of company stock worth $290,611,129 in the last ninety days. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CHWY has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 target price on shares of Chewy in a research report on Thursday, March 27th. Needham & Company LLC restated a “hold” rating on shares of Chewy in a report on Thursday, March 27th. JPMorgan Chase & Co. increased their target price on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. UBS Group upped their price objective on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, BNP Paribas downgraded shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.68.

Chewy Price Performance

Shares of NYSE CHWY opened at $33.54 on Wednesday. The business has a 50-day moving average of $35.74 and a two-hundred day moving average of $33.25. The company has a market capitalization of $13.66 billion, a price-to-earnings ratio of 36.85, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $40.09.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current year.

Chewy 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.