StoneX Group Inc. Takes Position in Chewy, Inc. (NYSE:CHWY)

StoneX Group Inc. bought a new position in shares of Chewy, Inc. (NYSE:CHWY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,465 shares of the company’s stock, valued at approximately $551,000.

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

Analyst Ratings Changes

CHWY has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price target on Chewy from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Mizuho raised their price objective on Chewy from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, March 27th. Evercore ISI upgraded Chewy from an “in-line” rating to an “outperform” rating and increased their target price for the company from $34.00 to $47.00 in a research report on Monday, January 13th. JPMorgan Chase & Co. boosted their price target on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Finally, Argus upgraded shares of Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.68.

Chewy Price Performance

Chewy stock opened at $34.02 on Thursday. The firm has a 50 day simple moving average of $35.68 and a 200-day simple moving average of $33.26. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 37.38, 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 issued its quarterly earnings data 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 company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the business posted $0.07 earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Activity at Chewy

In other news, CEO Sumit Singh sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $37.52, for a total value of $150,080.00. Following the transaction, the chief executive officer now directly owns 518,581 shares in the company, valued at approximately $19,457,159.12. This represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.77, for a total transaction of $250,390,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,083,269 shares of company stock worth $290,611,129. Company insiders own 2.10% of the company’s stock.

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.