Deane Retirement Strategies Inc. Invests $2.67 Million in Chewy, Inc. (NYSE:CHWY)

Deane Retirement Strategies Inc. acquired a new stake in shares of Chewy, Inc. (NYSE:CHWY) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 112,909 shares of the company’s stock, valued at approximately $2,668,000. Chewy makes up 1.5% of Deane Retirement Strategies Inc.’s holdings, making the stock its 25th biggest position.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Chewy by 4.2% during the third quarter. Vanguard Group Inc. now owns 8,464,429 shares of the company’s stock valued at $154,560,000 after purchasing an additional 344,273 shares in the last quarter. Wellington Management Group LLP grew its holdings in Chewy by 19.0% in the first quarter. Wellington Management Group LLP now owns 5,369,539 shares of the company’s stock worth $218,969,000 after purchasing an additional 856,909 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Chewy by 101.4% during the third quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company’s stock worth $63,518,000 after purchasing an additional 1,751,131 shares in the last quarter. Marshall Wace LLP raised its stake in Chewy by 17.1% in the second quarter. Marshall Wace LLP now owns 3,426,667 shares of the company’s stock valued at $135,251,000 after buying an additional 501,491 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Chewy by 1.0% during the second quarter. BlackRock Inc. now owns 2,658,440 shares of the company’s stock valued at $104,929,000 after acquiring an additional 25,506 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CHWY shares. The Goldman Sachs Group cut their price target on Chewy from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. JMP Securities restated a “market outperform” rating and set a $28.00 price target on shares of Chewy in a research report on Friday, March 15th. Wedbush reiterated an “outperform” rating and issued a $25.00 price objective on shares of Chewy in a research report on Thursday, March 21st. Piper Sandler dropped their target price on Chewy from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. dropped their price objective on Chewy from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.64.

Insider Transactions at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 12,325,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $20.29, for a total transaction of $250,074,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sumit Singh sold 192,642 shares of Chewy stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $3,409,763.40. Following the completion of the transaction, the chief executive officer now directly owns 1,307,025 shares of the company’s stock, valued at $23,134,342.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Argos Holdings Gp Llc sold 12,325,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $20.29, for a total transaction of $250,074,250.00. The disclosure for this sale can be found here. In the last three months, insiders sold 12,560,416 shares of company stock valued at $254,241,215. Company insiders own 2.10% of the company’s stock.

Chewy Price Performance

CHWY traded up $0.33 during trading on Thursday, hitting $15.98. The company had a trading volume of 2,775,335 shares, compared to its average volume of 8,991,830. Chewy, Inc. has a 1-year low of $15.08 and a 1-year high of $40.78. The company has a market cap of $6.89 billion, a PE ratio of 195.77, a P/E/G ratio of 7.94 and a beta of 0.92. The business has a 50-day moving average of $17.54 and a 200-day moving average of $19.03.

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 website www.chewy.com, as well as mobile applications.