Massachusetts Financial Services Co. MA Grows Position in Chewy, Inc. (NYSE:CHWY)

Massachusetts Financial Services Co. MA raised its position in Chewy, Inc. (NYSE:CHWY) by 4.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 528,215 shares of the company’s stock after purchasing an additional 24,798 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Chewy were worth $15,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHWY. BC Partners Advisors L.P. purchased a new stake in Chewy in the 2nd quarter valued at $7,517,800,000. Vanguard Group Inc. increased its stake in Chewy by 9.1% in the first quarter. Vanguard Group Inc. now owns 10,480,230 shares of the company’s stock valued at $166,740,000 after purchasing an additional 875,532 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Chewy by 7.8% in the second quarter. Bank of New York Mellon Corp now owns 3,553,104 shares of the company’s stock valued at $96,787,000 after buying an additional 258,502 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after buying an additional 2,636,526 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Chewy by 8.7% during the second quarter. Renaissance Technologies LLC now owns 2,521,755 shares of the company’s stock worth $68,693,000 after buying an additional 200,900 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Insider Transactions at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

Chewy Stock Performance

CHWY stock opened at $34.61 on Tuesday. The stock’s 50 day moving average price is $29.95 and its 200 day moving average price is $26.26. The firm has a market cap of $14.47 billion, a P/E ratio of 42.21, a PEG ratio of 3.36 and a beta of 1.06. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. On average, research analysts predict that Chewy, Inc. will post 0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CHWY shares. Raymond James cut Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Royal Bank of Canada lifted their price objective on shares of Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $28.00 to $40.00 in a research report on Friday, November 8th. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and lifted their target price for the company from $24.00 to $40.00 in a report on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Friday. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.35.

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.