Birch Hill Investment Advisors LLC Makes New Investment in Chewy, Inc. (NYSE:CHWY)

Birch Hill Investment Advisors LLC purchased a new position in Chewy, Inc. (NYSE:CHWY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 35,050 shares of the company’s stock, valued at approximately $1,174,000.

Several other hedge funds have also modified their holdings of CHWY. Wealth Enhancement Advisory Services LLC increased its stake in Chewy by 1.5% in the fourth 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. grew its holdings in shares of Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after buying an additional 320 shares during the last quarter. Fifth Third Bancorp increased its position in Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after acquiring an additional 444 shares during the period. Wilmington Savings Fund Society FSB raised its stake in Chewy by 30.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company’s stock valued at $94,000 after acquiring an additional 650 shares during the last quarter. Finally, Washington Trust Advisors Inc. lifted its position in Chewy by 0.3% during the 3rd 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 period. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Trading Down 3.9 %

Shares of NYSE:CHWY opened at $37.17 on Friday. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.09. The stock’s 50-day moving average price is $35.43 and its two-hundred day moving average price is $30.92. The firm has a market cap of $15.13 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 2.32 and a beta of 1.10.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The firm 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%. Chewy’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) earnings per share. As a group, research analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sumit Singh sold 4,000 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $37.52, for a total value of $150,080.00. Following the completion of the sale, the chief executive officer now owns 518,581 shares of the company’s stock, valued at $19,457,159.12. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction on Friday, December 13th. The shares were sold at an average price of $31.32, for a total transaction of $620,989,219.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,253,869 shares of company stock valued at $922,347,574. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CHWY has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Argus raised Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Mizuho raised Chewy from a “neutral” rating to an “outperform” rating and upped their target price for the company from $24.00 to $42.00 in a report on Monday, January 6th. Finally, Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $34.00 to $47.00 in a research note on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

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.