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

Principal Financial Group Inc. raised its stake in Chewy, Inc. (NYSE:CHWY) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 531,709 shares of the company’s stock after acquiring an additional 3,814 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of Chewy worth $15,574,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BC Partners Advisors L.P. purchased a new position in Chewy in the 2nd quarter valued at about $7,517,800,000. Marshall Wace LLP grew its position in shares of Chewy by 1,028.6% in the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after purchasing an additional 2,636,526 shares in the last quarter. FMR LLC increased its holdings in shares of Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after purchasing an additional 2,497,689 shares during the last quarter. Fiera Capital Corp purchased a new position in Chewy during the second quarter worth approximately $44,373,000. Finally, Clearbridge Investments LLC acquired a new position in Chewy during the second quarter worth $40,798,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CHWY shares. JMP Securities restated a “market outperform” rating and set a $37.00 price target on shares of Chewy in a report on Monday, December 16th. BNP Paribas lowered shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Royal Bank of Canada increased their target price on shares of Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Morgan Stanley lifted their target price on shares of Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $28.00 to $40.00 in a research note on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.60.

Chewy Stock Up 0.1 %

Shares of Chewy stock opened at $34.07 on Friday. 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 $13.87 billion, a price-to-earnings ratio of 37.44, a price-to-earnings-growth ratio of 4.28 and a beta of 1.12. The company’s 50-day simple moving average is $31.66 and its 200-day simple moving average is $28.54.

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

Insider Activity at Chewy

In related news, CEO Sumit Singh sold 71,161 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the sale, the chief executive officer now directly owns 77,838 shares of the company’s stock, valued at approximately $2,529,735. This represents a 47.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,227,620 shares of company stock valued at $662,812,221. 2.10% of the stock is owned by insiders.

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.