Fmr LLC Increases Stock Holdings in Chewy, Inc. (NYSE:CHWY)

Fmr LLC raised its holdings in Chewy, Inc. (NYSE:CHWY) by 32.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,288,757 shares of the company’s stock after buying an additional 1,293,428 shares during the quarter. Fmr LLC owned about 1.30% of Chewy worth $177,120,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in Chewy by 1.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock worth $661,000 after acquiring an additional 301 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after purchasing an additional 320 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares during the period. PNC Financial Services Group Inc. boosted its position in Chewy by 8.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company’s stock valued at $189,000 after buying an additional 450 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in Chewy by 30.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company’s stock worth $94,000 after buying an additional 650 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CHWY shares. JMP Securities reaffirmed a “market outperform” rating and issued a $37.00 price objective on shares of Chewy in a report on Monday, December 16th. Guggenheim set a $42.00 price target on Chewy and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price objective on shares of Chewy in a report on Thursday, March 27th. Wedbush reaffirmed an “outperform” rating and set a $39.00 target price on shares of Chewy in a report on Thursday, March 27th. Finally, Barclays boosted their price target on Chewy from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.47.

Chewy Price Performance

Shares of NYSE:CHWY opened at $34.74 on Friday. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $40.09. The firm has a market capitalization of $14.37 billion, a PE ratio of 38.17, a P/E/G ratio of 2.21 and a beta of 1.68. The business’s 50 day moving average price is $34.54 and its 200-day moving average price is $33.36.

Chewy (NYSE:CHWY) last announced its 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 quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 EPS. As a group, analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current year.

Insiders Place Their Bets

In other Chewy news, CEO Sumit Singh sold 9,285 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $371,400.00. Following the completion of the sale, the chief executive officer now directly owns 489,750 shares of the company’s stock, valued at $19,590,000. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Satish Mehta sold 83,639 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $40.00, for a total transaction of $3,345,560.00. Following the transaction, the chief technology officer now directly owns 334,218 shares in the company, valued at approximately $13,368,720. The trade was a 20.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 837,538 shares of company stock valued at $31,310,938 in the last ninety days. 2.10% of the stock is currently owned by corporate 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.