Commonwealth Equity Services LLC Acquires 4,795 Shares of Chewy, Inc. (NYSE:CHWY)

Commonwealth Equity Services LLC raised its holdings in Chewy, Inc. (NYSE:CHWY) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,453 shares of the company’s stock after acquiring an additional 4,795 shares during the period. Commonwealth Equity Services LLC’s holdings in Chewy were worth $1,790,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CHWY. FMR LLC boosted its holdings in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after acquiring an additional 2,497,689 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Chewy during the fourth quarter valued at about $69,789,000. Wealthfront Advisers LLC bought a new stake in shares of Chewy during the fourth quarter worth about $46,003,000. Allianz Asset Management GmbH increased its stake in shares of 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 buying an additional 929,116 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Chewy in the 3rd quarter valued at approximately $13,699,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Insider Activity

In related news, CEO Sumit Singh sold 63,187 shares of Chewy stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $37.62, for a total transaction of $2,377,094.94. Following the transaction, the chief executive officer now owns 643,939 shares of the company’s stock, valued at $24,224,985.18. The trade was a 8.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Satish Mehta sold 168,105 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $36.32, for a total value of $6,105,573.60. Following the completion of the sale, the chief technology officer now directly owns 417,857 shares of the company’s stock, valued at $15,176,566.24. The trade was a 28.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,083,269 shares of company stock worth $290,611,129 over the last three months. 2.10% of the stock is currently owned by insiders.

Chewy Stock Performance

CHWY stock opened at $32.20 on Friday. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $40.09. The stock’s 50 day simple moving average is $35.90 and its 200 day simple moving average is $33.17. The company has a market cap of $13.11 billion, a P/E ratio of 35.39, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.25. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. Chewy’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business earned $0.07 EPS. Equities analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CHWY shares. Piper Sandler boosted their target price on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Citigroup boosted their price objective on shares of Chewy from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Chewy in a research report on Thursday. Evercore ISI upgraded Chewy from an “in-line” rating to an “outperform” rating and upped their price target for the company from $34.00 to $47.00 in a research report on Monday, January 13th. Finally, Morgan Stanley raised their price objective on Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.68.

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.