Chewy, Inc. (NYSE:CHWY) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC raised its holdings in Chewy, Inc. (NYSE:CHWY) by 47.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,866,680 shares of the company’s stock after purchasing an additional 1,243,981 shares during the quarter. Clearbridge Investments LLC’s holdings in Chewy were worth $129,495,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CHWY. Fifth Third Bancorp increased its position in Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after acquiring an additional 444 shares during the period. Blue Trust Inc. increased its holdings in shares of Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares during the period. Allworth Financial LP raised its stake in shares of Chewy by 52.0% during the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after purchasing an additional 650 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Chewy during the third quarter worth approximately $63,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Chewy during the fourth quarter worth $86,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Stock Down 1.5 %

CHWY opened at $32.20 on Monday. The firm has a market cap of $13.11 billion, a P/E ratio of 35.39, a PEG ratio of 2.21 and a beta of 1.23. The business’s fifty day simple moving average is $35.90 and its 200 day simple moving average is $33.23. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $40.09.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.25. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the company earned $0.07 EPS. As a group, equities analysts expect that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sumit Singh sold 191,096 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.68, for a total transaction of $6,818,305.28. Following the transaction, the chief executive officer now directly owns 707,126 shares in the company, valued at approximately $25,230,255.68. This represents a 21.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of Chewy stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the sale, the chief technology officer now owns 262,853 shares of the company’s stock, valued at $9,357,566.80. This trade represents a 21.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 8,083,269 shares of company stock valued at $290,611,129. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CHWY. JPMorgan Chase & Co. boosted their price objective on shares of Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday. The Goldman Sachs Group boosted their price target on shares of Chewy from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of Chewy in a report on Thursday. Wedbush reiterated an “outperform” rating and set a $39.00 target price on shares of Chewy in a research report on Thursday. Finally, Seaport Res Ptn upgraded Chewy to a “hold” rating in a research note on Monday, March 24th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.68.

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.