Tokio Marine Asset Management Co. Ltd. Reduces Stock Position in Chewy, Inc. (NYSE:CHWY)

Tokio Marine Asset Management Co. Ltd. reduced its stake in shares of Chewy, Inc. (NYSE:CHWY) by 12.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,100 shares of the company’s stock after selling 1,200 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Chewy were worth $271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CHWY. Wealth Enhancement Advisory Services LLC lifted its holdings in Chewy by 1.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock valued at $661,000 after buying an additional 301 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after acquiring an additional 320 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Chewy by 83.0% in the fourth 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 period. Washington Trust Advisors Inc. grew its stake in Chewy by 0.3% in the third quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock worth $8,156,000 after purchasing an additional 923 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Chewy by 5.0% during the 3rd quarter. D.A. Davidson & CO. now owns 26,219 shares of the company’s stock worth $768,000 after purchasing an additional 1,244 shares during the period. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Trading Down 0.4 %

NYSE:CHWY opened at $38.45 on Thursday. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $40.09. The company has a market cap of $15.66 billion, a PE ratio of 42.25, a P/E/G ratio of 4.36 and a beta of 1.10. The company’s 50 day moving average is $35.15 and its two-hundred day moving average is $30.73.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) earnings per share. As a group, analysts expect that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Insider Transactions at Chewy

In other Chewy news, CEO Sumit Singh sold 71,161 shares of Chewy 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 completion of the transaction, the chief executive officer now owns 77,838 shares in the company, valued at approximately $2,529,735. This trade represents a 47.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. Insiders sold a total of 28,196,437 shares of company stock worth $920,170,901 over the last three months. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CHWY has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price target on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Robert W. Baird boosted their price target on shares of Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $28.00 to $40.00 in a research note on Friday, November 8th. Piper Sandler boosted their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Finally, Wedbush restated an “outperform” rating and set a $39.00 target price (up previously from $35.00) on shares of Chewy in a report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.