Mitsubishi UFJ Trust & Banking Corp Sells 222,611 Shares of Chewy, Inc. (NYSE:CHWY)

Mitsubishi UFJ Trust & Banking Corp decreased its stake in Chewy, Inc. (NYSE:CHWY) by 16.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,131,373 shares of the company’s stock after selling 222,611 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.28% of Chewy worth $37,890,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHWY. Fifth Third Bancorp increased its position in shares of 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 buying an additional 444 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Chewy during the 3rd quarter worth approximately $63,000. Allworth Financial LP raised its holdings in Chewy by 52.0% during the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after buying an additional 650 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in Chewy in the fourth quarter valued at approximately $86,000. Institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CHWY shares. JMP Securities restated a “market outperform” rating and set a $37.00 price objective on shares of Chewy in a report on Monday, December 16th. Royal Bank of Canada boosted their price target on Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. 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. Seaport Res Ptn raised Chewy to a “hold” rating in a research report on Monday. Finally, Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Chewy presently has an average rating of “Moderate Buy” and a consensus target price of $37.95.

Chewy Stock Performance

Chewy stock opened at $33.30 on Thursday. The stock has a 50-day simple moving average of $36.09 and a 200 day simple moving average of $33.14. The stock has a market capitalization of $13.56 billion, a P/E ratio of 36.60, a PEG ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $40.09.

Insider Activity

In other news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sumit Singh sold 63,187 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $37.62, for a total transaction of $2,377,094.94. Following the completion of the transaction, the chief executive officer now owns 643,939 shares in the company, valued at approximately $24,224,985.18. This trade represents a 8.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,083,269 shares of company stock valued at $290,611,129 over the last three months. Insiders own 2.10% of the company’s stock.

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.