Summit Trail Advisors LLC Buys New Position in Chewy, Inc. (NYSE:CHWY)

Summit Trail Advisors LLC bought a new stake in shares of Chewy, Inc. (NYSE:CHWY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,728 shares of the company’s stock, valued at approximately $225,000.

Several other hedge funds have also recently added to or reduced their stakes in CHWY. Truist Financial Corp increased its position in shares of Chewy by 39.3% during the second quarter. Truist Financial Corp now owns 20,732 shares of the company’s stock worth $565,000 after buying an additional 5,847 shares during the period. Vontobel Holding Ltd. boosted its position in Chewy by 33.7% during the third quarter. Vontobel Holding Ltd. now owns 24,513 shares of the company’s stock valued at $718,000 after acquiring an additional 6,172 shares during the last quarter. Seven Grand Managers LLC acquired a new stake in Chewy during the 3rd quarter worth about $10,252,000. Blue Trust Inc. raised its position in shares of Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after acquiring an additional 905 shares in the last quarter. Finally, Castleview Partners LLC acquired a new position in shares of Chewy in the 3rd quarter valued at about $76,000. Institutional investors own 93.09% of the company’s stock.

Chewy Price Performance

NYSE CHWY opened at $37.56 on Thursday. The company has a fifty day moving average price of $35.59 and a 200-day moving average price of $31.18. The firm has a market cap of $15.29 billion, a price-to-earnings ratio of 41.27, a PEG ratio of 2.32 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 posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same quarter last year, the business posted ($0.08) EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts anticipate that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $31.32, for a total transaction of $620,989,219.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sumit Singh sold 9,285 shares of Chewy stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $40.00, for a total transaction of $371,400.00. Following the completion of the sale, the chief executive officer now directly owns 489,750 shares in the company, valued at approximately $19,590,000. This represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,561,427 shares of company stock worth $933,874,848. 2.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $47.00 in a research note on Monday, January 13th. Piper Sandler raised their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and boosted their target price for the company from $24.00 to $40.00 in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $37.00 price objective on shares of Chewy in a report on Monday, December 16th. Five analysts have rated the stock with a hold rating and eighteen have assigned 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.

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.