PNC Financial Services Group Inc. Has $189,000 Stock Holdings in Chewy, Inc. (NYSE:CHWY)

PNC Financial Services Group Inc. grew its position in Chewy, Inc. (NYSE:CHWY) by 8.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,650 shares of the company’s stock after buying an additional 450 shares during the period. PNC Financial Services Group Inc.’s holdings in Chewy were worth $189,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHWY. Bank of New York Mellon Corp increased its position in Chewy by 9.8% in the fourth quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company’s stock worth $150,345,000 after purchasing an additional 399,330 shares during the period. FMR LLC grew its position in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after buying an additional 2,497,689 shares during the period. ArrowMark Colorado Holdings LLC raised its stake in shares of Chewy by 5.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock worth $81,014,000 after buying an additional 138,768 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Chewy in the fourth quarter valued at approximately $69,789,000. Finally, Allianz Asset Management GmbH boosted its stake in Chewy by 134.3% in the fourth quarter. Allianz Asset Management GmbH now owns 1,620,809 shares of the company’s stock valued at $54,281,000 after acquiring an additional 929,116 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.

Chewy Trading Up 4.8 %

Shares of NYSE CHWY opened at $33.86 on Monday. The company has a fifty day moving average price of $36.25 and a 200 day moving average price of $33.03. The firm has a market cap of $13.79 billion, a PE ratio of 37.21, a PEG ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09.

Wall Street Analysts Forecast Growth

Several analysts have commented on CHWY shares. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research report on Thursday, December 5th. Robert W. Baird increased their target price on Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Piper Sandler raised their target price on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. The Goldman Sachs Group upped their price target on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, JMP Securities reissued a “market outperform” rating and set a $37.00 price objective on shares of Chewy in a research note on Monday, December 16th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.95.

Insider Activity

In related news, CTO Satish Mehta sold 71,365 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the transaction, the chief technology officer now owns 262,853 shares of the company’s stock, valued at approximately $9,357,566.80. This trade represents a 21.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $35.77, for a total transaction of $250,390,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,726,333 shares of company stock worth $312,843,856 over the last three months. Corporate 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.