Principal Financial Group Inc. Has $32.52 Million Stake in Chewy, Inc. (NYSE:CHWY)

Principal Financial Group Inc. grew its position in shares of Chewy, Inc. (NYSE:CHWY) by 82.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 970,964 shares of the company’s stock after buying an additional 439,255 shares during the quarter. Principal Financial Group Inc. owned 0.24% of Chewy worth $32,518,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CHWY. Blue Trust Inc. lifted its position in shares of Chewy by 183.6% during the 3rd 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. International Assets Investment Management LLC bought a new position in shares of Chewy during the 3rd quarter worth approximately $12,140,000. CENTRAL TRUST Co lifted its position in shares of Chewy by 1,021.3% during the 3rd quarter. CENTRAL TRUST Co now owns 2,691 shares of the company’s stock worth $79,000 after buying an additional 2,451 shares in the last quarter. Legacy Capital Group California Inc. bought a new position in shares of Chewy during the 3rd quarter worth approximately $1,072,000. Finally, AMI Asset Management Corp bought a new position in shares of Chewy during the 3rd quarter worth approximately $17,756,000. Institutional investors own 93.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CHWY. JMP Securities reissued a “market outperform” rating and set a $37.00 target price on shares of Chewy in a research report on Monday, December 16th. Evercore ISI raised shares of Chewy from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $34.00 to $47.00 in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Morgan Stanley lifted their price target on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.80.

Chewy Price Performance

CHWY opened at $35.03 on Friday. The company has a fifty day moving average price of $36.45 and a 200-day moving average price of $31.84. The firm has a market capitalization of $14.26 billion, a P/E ratio of 38.49, a price-to-earnings-growth ratio of 2.25 and a beta of 1.10. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The firm had revenue of $2.89 billion during 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 revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) EPS. On average, analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current year.

Insider Activity

In related news, CFO David Reeder sold 307,558 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $37.48, for a total value of $11,527,273.84. Following the transaction, the chief financial officer now owns 546,257 shares of the company’s stock, valued at $20,473,712.36. This represents a 36.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 57,432 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $37.90, for a total value of $2,176,672.80. Following the completion of the transaction, the chief executive officer now directly owns 877,704 shares in the company, valued at approximately $33,264,981.60. This represents a 6.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,561,427 shares of company stock worth $933,874,848 in the last three months. Corporate 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.