Tompkins Financial Corp Boosts Stock Position in Chewy, Inc. (NYSE:CHWY)

Tompkins Financial Corp lifted its position in Chewy, Inc. (NYSE:CHWY) by 12.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,733 shares of the company’s stock after purchasing an additional 1,294 shares during the quarter. Tompkins Financial Corp’s holdings in Chewy were worth $393,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Choreo LLC acquired a new position in Chewy in the 2nd quarter worth approximately $205,000. American Century Companies Inc. raised its holdings in shares of Chewy by 46.0% during the second quarter. American Century Companies Inc. now owns 29,111 shares of the company’s stock worth $793,000 after purchasing an additional 9,166 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Chewy during the second quarter valued at $380,000. Envestnet Asset Management Inc. boosted its holdings in Chewy by 243.6% in the second quarter. Envestnet Asset Management Inc. now owns 165,662 shares of the company’s stock valued at $4,513,000 after purchasing an additional 117,454 shares during the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in Chewy during the 2nd quarter worth about $271,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Insider Transactions at Chewy

In related news, CTO Satish Mehta sold 8,056 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the sale, the chief technology officer now owns 585,962 shares of the company’s stock, valued at approximately $19,612,148.14. This represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was 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. Insiders have sold a total of 27,971,911 shares of company stock worth $911,495,287 in the last ninety days. Insiders own 2.10% of the company’s stock.

Chewy Stock Performance

Shares of CHWY stock opened at $37.25 on Friday. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $39.10. The stock’s fifty day moving average is $33.72 and its two-hundred day moving average is $29.46. The firm has a market capitalization of $15.17 billion, a P/E ratio of 40.93, a PEG ratio of 4.06 and a beta of 1.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings results 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. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm 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 firm posted ($0.08) earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CHWY shares. Piper Sandler boosted their price objective on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. 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 research report on Thursday, December 5th. Citigroup raised shares of Chewy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $28.00 to $40.00 in a report on Friday, November 8th. JMP Securities reissued a “market outperform” rating and set a $37.00 price target on shares of Chewy in a report on Monday, December 16th. Finally, TD Cowen initiated coverage on shares of Chewy in a report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Chewy has a consensus rating of “Moderate Buy” and an average target price of $36.80.

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.