Charles Schwab Investment Management Inc. Increases Stake in Chewy, Inc. (NYSE:CHWY)

Charles Schwab Investment Management Inc. raised its stake in Chewy, Inc. (NYSE:CHWY) by 17.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 970,228 shares of the company’s stock after acquiring an additional 145,404 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.24% of Chewy worth $32,493,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on CHWY shares. Guggenheim set a $42.00 target price on shares of Chewy and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Evercore ISI raised shares of Chewy from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $34.00 to $47.00 in a research report on Monday, January 13th. The Goldman Sachs Group raised their price objective on Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Bank of America raised Chewy from an “underperform” rating to a “buy” rating and boosted their target price for the company from $24.00 to $40.00 in a research report on Wednesday, November 20th. Finally, Argus upgraded Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.30.

Insider Activity

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of Chewy stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.77, for a total value of $250,390,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sumit Singh sold 71,161 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the sale, the chief executive officer now owns 77,838 shares of the company’s stock, valued at $2,529,735. This trade represents a 47.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,797,494 shares of company stock worth $315,156,588. Corporate insiders own 2.10% of the company’s stock.

Chewy Stock Up 2.9 %

Shares of CHWY opened at $33.29 on Monday. The company has a market capitalization of $13.55 billion, a price-to-earnings ratio of 36.58, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $40.09. The stock has a 50 day moving average price of $36.61 and a 200 day moving average price of $32.87.

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.