Charles Schwab Investment Management Inc. Buys 46,629 Shares of Chewy, Inc. (NYSE:CHWY)

Charles Schwab Investment Management Inc. increased its holdings in Chewy, Inc. (NYSE:CHWY) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 824,824 shares of the company’s stock after purchasing an additional 46,629 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.20% of Chewy worth $24,159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC purchased a new position in shares of Chewy in the second quarter valued at about $11,916,000. Cetera Advisors LLC purchased a new position in shares of Chewy in the first quarter valued at about $334,000. Sanctuary Advisors LLC purchased a new position in shares of Chewy in the second quarter valued at about $673,000. Marshall Wace LLP increased its position in shares of Chewy by 1,028.6% in the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after acquiring an additional 2,636,526 shares during the period. Finally, Simplify Asset Management Inc. bought a new position in Chewy in the third quarter worth about $5,379,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Satish Mehta sold 8,056 shares of Chewy stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the sale, the chief technology officer now owns 585,962 shares of the company’s stock, valued at $19,612,148.14. The trade was a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,128,804 shares of company stock valued at $827,019,626 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CHWY. The Goldman Sachs Group increased their price target on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC restated a “hold” rating on shares of Chewy in a report on Thursday. Evercore ISI upped their price objective on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and increased their price target for the company from $28.00 to $40.00 in a report on Friday, November 8th. Finally, Morgan Stanley raised their target price on shares of Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.15.

Chewy Price Performance

Shares of CHWY stock opened at $31.07 on Friday. The company has a market capitalization of $12.99 billion, a price-to-earnings ratio of 37.88, a PEG ratio of 3.15 and a beta of 1.12. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10. The company’s fifty day moving average price is $30.42 and its 200-day moving average price is $27.06.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.05 by $0.15. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned ($0.08) EPS. Equities research analysts expect that Chewy, Inc. will post 0.33 earnings per share for the current fiscal year.

Chewy 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.