Swiss National Bank Buys 31,500 Shares of Chewy, Inc. (NYSE:CHWY)

Swiss National Bank lifted its stake in shares of Chewy, Inc. (NYSE:CHWY) by 11.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 299,100 shares of the company’s stock after acquiring an additional 31,500 shares during the quarter. Swiss National Bank owned approximately 0.07% of Chewy worth $8,761,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new position in Chewy in the 2nd quarter worth approximately $33,000. Blue Trust Inc. boosted its stake in Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares during the period. Industrial Alliance Investment Management Inc. bought a new position in Chewy in the 2nd quarter worth approximately $44,000. First Horizon Advisors Inc. bought a new position in Chewy in the 2nd quarter worth approximately $48,000. Finally, Skylands Capital LLC bought a new position in Chewy in the 2nd quarter worth approximately $52,000. 93.09% of the stock is currently owned by institutional investors.

Chewy Stock Down 0.8 %

NYSE:CHWY opened at $34.61 on Tuesday. The stock’s 50 day moving average price is $29.95 and its 200 day moving average price is $26.26. The company has a market capitalization of $14.47 billion, a PE ratio of 42.21, a P/E/G ratio of 3.36 and a beta of 1.06. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $39.10.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. As a group, sell-side analysts anticipate that Chewy, Inc. will post 0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CHWY has been the topic of several recent research reports. Royal Bank of Canada upped their price objective on Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. UBS Group upped their price objective on Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Bank of America raised Chewy from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price objective on shares of Chewy in a report on Friday, September 20th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.35.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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.