Wealthspire Advisors LLC Buys Shares of 6,246 Chewy, Inc. (NYSE:CHWY)

Wealthspire Advisors LLC purchased a new position in Chewy, Inc. (NYSE:CHWY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,246 shares of the company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp grew its position in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after purchasing an additional 444 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after buying an additional 905 shares in the last quarter. Planning Capital Management Corp purchased a new stake in shares of Chewy during the third quarter valued at approximately $52,000. Allworth Financial LP increased its position in shares of Chewy by 52.0% during the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after acquiring an additional 650 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Chewy in the 3rd quarter worth approximately $63,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Stock Performance

Chewy stock opened at $36.16 on Friday. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09. The stock has a market cap of $14.72 billion, a PE ratio of 39.73, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10. The stock has a 50-day moving average of $36.64 and a two-hundred day moving average of $32.17.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the previous year, the firm posted ($0.08) EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $31.32, for a total value of $620,989,219.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sumit Singh sold 71,161 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the sale, the chief executive officer now directly owns 77,838 shares of the company’s stock, valued at $2,529,735. This represents a 47.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,561,427 shares of company stock valued at $933,874,848 in the last quarter. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CHWY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Guggenheim set a $42.00 price objective on Chewy and gave the company a “buy” rating in a research report on Tuesday, February 4th. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group upped their target price on shares of Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Wedbush reiterated an “outperform” rating and issued a $39.00 price target (up from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.