Mutual Advisors LLC Buys New Stake in Chewy, Inc. (NYSE:CHWY)

Mutual Advisors LLC bought a new stake in Chewy, Inc. (NYSE:CHWY) during the fourth quarter, HoldingsChannel.com reports. The fund bought 5,908 shares of the company’s stock, valued at approximately $198,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC grew its stake in Chewy by 166.8% during the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after buying an additional 2,497,689 shares during the last quarter. Clearbridge Investments LLC bought a new stake in Chewy during the second quarter worth about $40,798,000. Eagle Asset Management Inc. grew its stake in Chewy by 97.9% during the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after buying an additional 975,647 shares during the last quarter. AMI Asset Management Corp bought a new stake in Chewy during the third quarter worth about $17,756,000. Finally, Quadrature Capital Ltd bought a new stake in Chewy during the third quarter worth about $13,699,000. Institutional investors own 93.09% of the company’s stock.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $38.86 on Thursday. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $39.62. The company has a market capitalization of $15.82 billion, a PE ratio of 42.70, a PEG ratio of 4.16 and a beta of 1.10. The company has a 50 day moving average price of $34.74 and a two-hundred day moving average price of $30.29.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current year.

Insider Buying and Selling at Chewy

In other news, CTO Satish Mehta sold 8,056 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the completion of the sale, the chief technology officer now owns 585,962 shares of the company’s stock, valued at $19,612,148.14. This represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $31.32, for a total transaction of $620,989,219.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,103,513 shares of company stock valued at $916,453,941. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

CHWY has been the topic of several research analyst reports. Mizuho raised shares of Chewy from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $24.00 to $42.00 in a research note on Monday, January 6th. Morgan Stanley upped their price objective on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada upped their target price on shares of Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. The Goldman Sachs Group upped their target price on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research report on Thursday, December 5th. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.80.

About Chewy

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.