Artisan Partners Limited Partnership Purchases New Shares in Chewy, Inc. (NYSE:CHWY)

Artisan Partners Limited Partnership acquired a new position in Chewy, Inc. (NYSE:CHWY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 303,504 shares of the company’s stock, valued at approximately $10,164,000. Artisan Partners Limited Partnership owned approximately 0.07% of Chewy at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp raised its stake in Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after buying an additional 444 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after acquiring an additional 320 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Chewy in the 3rd quarter worth approximately $63,000. Allworth Financial LP lifted its stake in shares of Chewy by 52.0% in the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after purchasing an additional 650 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Chewy during the fourth quarter valued at approximately $86,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHWY has been the subject of several recent research reports. BNP Paribas lowered Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. Barclays boosted their price objective on shares of Chewy from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday. Guggenheim set a $42.00 target price on shares of Chewy and gave the company a “buy” rating in a report on Tuesday, February 4th. Mizuho upped their price target on Chewy from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chewy presently has an average rating of “Moderate Buy” and an average target price of $38.68.

Chewy Price Performance

Shares of CHWY opened at $32.20 on Friday. The firm has a market capitalization of $13.11 billion, a P/E ratio of 35.39, a PEG ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09. The business has a fifty day moving average of $35.90 and a 200 day moving average of $33.17.

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, beating analysts’ consensus estimates of $0.03 by $0.25. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. Analysts expect that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Insider Transactions at Chewy

In other news, CEO Sumit Singh sold 191,096 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.68, for a total value of $6,818,305.28. Following the transaction, the chief executive officer now owns 707,126 shares of the company’s stock, valued at $25,230,255.68. This trade represents a 21.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the completion of the sale, the chief technology officer now directly owns 262,853 shares of the company’s stock, valued at $9,357,566.80. This represents a 21.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,083,269 shares of company stock worth $290,611,129 in the last 90 days. 2.10% of the stock is currently owned by insiders.

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 websites and mobile applications.