Chewy, Inc. (NYSE:CHWY) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in Chewy, Inc. (NYSE:CHWY) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,489,237 shares of the company’s stock after acquiring an additional 399,330 shares during the quarter. Bank of New York Mellon Corp’s holdings in Chewy were worth $150,345,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CHWY. Union Bancaire Privee UBP SA purchased a new position in shares of Chewy in the fourth quarter worth about $86,000. Wealthspire Advisors LLC purchased a new position in shares of Chewy in the fourth quarter worth about $209,000. Olympiad Research LP purchased a new position in shares of Chewy in the fourth quarter worth about $466,000. Bradley Foster & Sargent Inc. CT raised its stake in shares of Chewy by 31.3% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 18,158 shares of the company’s stock worth $608,000 after purchasing an additional 4,325 shares during the last quarter. Finally, Allianz Asset Management GmbH raised 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 worth $54,281,000 after purchasing an additional 929,116 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JMP Securities restated a “market outperform” rating and issued a $37.00 price objective on shares of Chewy in a research note on Monday, December 16th. 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 note on Thursday, December 5th. Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $24.00 to $42.00 in a research note on Monday, January 6th. Barclays lifted their price target on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $28.00 to $40.00 in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.30.

Chewy Price Performance

Shares of NYSE:CHWY opened at $37.27 on Friday. The business’s 50 day moving average price is $36.71 and its 200-day moving average price is $32.27. The firm has a market capitalization of $15.17 billion, a PE ratio of 40.95, a P/E/G ratio of 2.21 and a beta of 1.10. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $40.09.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates 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 period in the previous year, the company posted ($0.08) earnings per share. As a group, analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current year.

Insider Transactions at Chewy

In other Chewy news, CEO Sumit Singh sold 71,161 shares of the business’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 transaction, the chief executive officer now owns 77,838 shares of the company’s stock, valued at approximately $2,529,735. The trade was a 47.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business’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 disclosure for this sale can be found here. Insiders have sold 28,561,427 shares of company stock valued at $933,874,848 over the last ninety days. Insiders own 2.10% of the company’s stock.

Chewy 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.