Bank of New York Mellon Corp Acquires 399,330 Shares of Chewy, Inc. (NYSE:CHWY)

Bank of New York Mellon Corp boosted its holdings in Chewy, Inc. (NYSE:CHWY) by 9.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,489,237 shares of the company’s stock after purchasing an additional 399,330 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.10% of Chewy worth $150,345,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Asset Management Inc. boosted its position in shares of Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after acquiring an additional 975,647 shares during the last quarter. Centiva Capital LP bought a new position in shares of Chewy during the 3rd quarter valued at approximately $2,949,000. Geode Capital Management LLC boosted its position in shares of Chewy by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after acquiring an additional 119,633 shares during the last quarter. Birch Hill Investment Advisors LLC bought a new position in shares of Chewy during the 4th quarter valued at approximately $1,174,000. Finally, Simplify Asset Management Inc. bought a new position in shares of Chewy during the 3rd quarter valued at approximately $5,379,000. 93.09% of the stock is currently owned by institutional investors.

Insider Activity at Chewy

In related news, CEO Sumit Singh sold 4,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $37.52, for a total transaction of $150,080.00. Following the sale, the chief executive officer now owns 518,581 shares of the company’s stock, valued at $19,457,159.12. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were 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 a total of 28,561,427 shares of company stock valued at $933,874,848 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CHWY. Deutsche Bank Aktiengesellschaft increased their target price on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Needham & Company LLC restated a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Piper Sandler increased their price target on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Finally, Evercore ISI upgraded Chewy from an “in-line” rating to an “outperform” rating and increased their price target for the company from $34.00 to $47.00 in a report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.30.

Chewy Trading Up 3.1 %

Shares of Chewy stock opened at $37.27 on Friday. The firm has a market cap of $15.17 billion, a P/E ratio of 40.95, a P/E/G ratio of 2.21 and a beta of 1.10. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09. The stock’s fifty day moving average price is $36.71 and its 200-day moving average price is $32.27.

Chewy (NYSE:CHWY) last announced its quarterly 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. 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 for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) earnings per share. Analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current year.

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.