Howard Financial Services LTD. Makes New Investment in Chewy, Inc. (NYSE:CHWY)

Howard Financial Services LTD. purchased a new stake in shares of Chewy, Inc. (NYSE:CHWY) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,712 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds have also recently modified their holdings of CHWY. Blue Trust Inc. boosted its holdings in Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after purchasing an additional 905 shares during the last quarter. Planning Capital Management Corp acquired a new position in Chewy in the third quarter valued at approximately $52,000. Future Financial Wealth Managment LLC purchased a new position in Chewy in the third quarter worth approximately $62,000. Wilmington Savings Fund Society FSB acquired a new stake in Chewy during the third quarter worth $63,000. Finally, Castleview Partners LLC purchased a new stake in Chewy in the third quarter valued at $76,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Stock Performance

CHWY opened at $36.99 on Friday. The business’s 50-day simple moving average is $33.97 and its 200-day simple moving average is $29.59. The company has a market cap of $15.06 billion, a P/E ratio of 40.64, a PEG ratio of 4.06 and a beta of 1.10. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share 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 net margin of 3.51% and a return on equity of 24.47%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) EPS. As a group, analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CHWY. Citigroup raised Chewy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $28.00 to $40.00 in a research report on Friday, November 8th. TD Cowen began coverage on shares of Chewy in a research report on Wednesday, October 9th. They set a “buy” rating and a $38.00 price target for the company. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Barclays boosted their target price on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Royal Bank of Canada lifted their price objective on Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.80.

Insider Transactions at Chewy

In other news, CEO Sumit Singh sold 114,130 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $37.70, for a total transaction of $4,302,701.00. Following the transaction, the chief executive officer now directly owns 529,809 shares in the company, valued at approximately $19,973,799.30. This trade represents a 17.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Satish Mehta sold 168,105 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $36.32, for a total transaction of $6,105,573.60. Following the sale, the chief technology officer now owns 417,857 shares of the company’s stock, valued at approximately $15,176,566.24. This represents a 28.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,086,041 shares of company stock worth $915,797,988. 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.