D.A. Davidson & CO. Raises Position in Chewy, Inc. (NYSE:CHWY)

D.A. Davidson & CO. raised its stake in shares of Chewy, Inc. (NYSE:CHWY) by 20.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,519 shares of the company’s stock after purchasing an additional 5,300 shares during the quarter. D.A. Davidson & CO.’s holdings in Chewy were worth $1,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after acquiring an additional 444 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares during the last quarter. Planning Capital Management Corp bought a new stake in shares of Chewy in the third quarter worth about $52,000. Wilmington Savings Fund Society FSB purchased a new position in Chewy during the 3rd quarter valued at about $63,000. Finally, Allworth Financial LP raised its position in Chewy by 52.0% during the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after purchasing an additional 650 shares during the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CHWY shares. Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $34.00 to $47.00 in a research note on Monday, January 13th. Barclays boosted their price objective on shares of Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Piper Sandler raised their target price 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. Argus upgraded shares of Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Wedbush restated an “outperform” rating and issued a $39.00 price objective (up from $35.00) on shares of Chewy in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.30.

Chewy Stock Down 5.2 %

NYSE:CHWY opened at $35.03 on Monday. The stock has a market cap of $14.26 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 2.21 and a beta of 1.10. The company’s 50 day moving average price is $36.45 and its 200-day moving average price is $31.97. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $40.09.

Chewy (NYSE:CHWY) last issued its earnings results 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 return on equity of 24.47% and a net margin of 3.51%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period last year, the business posted ($0.08) EPS. The company’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chewy, Inc. will post 0.24 earnings per share for the current year.

Insider Buying and Selling

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $31.32, for a total value of $620,989,219.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sumit Singh sold 71,161 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the sale, the chief executive officer now owns 77,838 shares of the company’s stock, valued at approximately $2,529,735. This represents a 47.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,561,427 shares of company stock worth $933,874,848. 2.10% of the stock is owned by corporate insiders.

About Chewy

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.