Park Avenue Securities LLC Purchases New Position in Chewy, Inc. (NYSE:CHWY)

Park Avenue Securities LLC acquired a new position in shares of Chewy, Inc. (NYSE:CHWY) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,917 shares of the company’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Chewy by 1.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock valued at $661,000 after purchasing an additional 301 shares during the period. Blue Trust Inc. boosted its holdings in shares of Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after acquiring an additional 905 shares during the period. Washington Trust Advisors Inc. grew its position in shares of Chewy by 0.3% during the third quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock worth $8,156,000 after acquiring an additional 923 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Chewy by 10.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock valued at $308,000 after purchasing an additional 1,029 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in Chewy by 5.0% during the 3rd quarter. D.A. Davidson & CO. now owns 26,219 shares of the company’s stock worth $768,000 after purchasing an additional 1,244 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CHWY. Robert W. Baird lifted their price objective on shares of Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Mizuho raised Chewy from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $24.00 to $42.00 in a research note on Monday, January 6th. Wedbush reiterated an “outperform” rating and issued a $39.00 target price (up from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Piper Sandler upped their price target on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Finally, The Goldman Sachs Group lifted their price objective on shares of Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.80.

Chewy Stock Performance

Shares of CHWY stock opened at $39.25 on Monday. The stock has a fifty day moving average price of $34.48 and a 200 day moving average price of $30.08. The stock has a market cap of $15.98 billion, a PE ratio of 43.13, a P/E/G ratio of 4.16 and a beta of 1.10. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.60.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.15. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.08) EPS. As a group, equities research analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current year.

Insider Buying and Selling at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Satish Mehta sold 8,056 shares of Chewy stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the sale, the chief technology officer now owns 585,962 shares of the company’s stock, valued at approximately $19,612,148.14. This represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,103,513 shares of company stock valued at $916,453,941 over the last quarter. 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.