9,230 Shares in Chewy, Inc. (NYSE:CHWY) Bought by Verus Capital Partners LLC

Verus Capital Partners LLC acquired a new position in shares of Chewy, Inc. (NYSE:CHWY) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 9,230 shares of the company’s stock, valued at approximately $309,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Blue Trust Inc. raised its position in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after purchasing an additional 905 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Chewy by 36.7% in the third quarter. Pinnacle Associates Ltd. now owns 49,163 shares of the company’s stock valued at $1,440,000 after purchasing an additional 13,200 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Chewy by 281.7% in the third quarter. Janney Montgomery Scott LLC now owns 38,398 shares of the company’s stock valued at $1,125,000 after purchasing an additional 28,337 shares during the last quarter. Radnor Capital Management LLC bought a new position in Chewy in the third quarter valued at about $442,000. Finally, Principal Financial Group Inc. raised its position in Chewy by 0.7% in the third quarter. Principal Financial Group Inc. now owns 531,709 shares of the company’s stock valued at $15,574,000 after purchasing an additional 3,814 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CHWY has been the subject of several research reports. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and increased their target price for the company from $24.00 to $40.00 in a research report on Wednesday, November 20th. Evercore ISI upgraded Chewy from an “in-line” rating to an “outperform” rating and increased their target price for the company from $34.00 to $47.00 in a research report on Monday, January 13th. Piper Sandler raised their price objective on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Wedbush restated an “outperform” rating and set a $39.00 price objective (up from $35.00) on shares of Chewy in a research report on Thursday, December 5th. Finally, Royal Bank of Canada raised their price objective on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.30.

Insiders Place Their Bets

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $31.32, for a total transaction of $620,989,219.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sumit Singh sold 71,161 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $32.50, for a total value of $2,312,732.50. Following the completion of the transaction, the chief executive officer now owns 77,838 shares in the company, valued at $2,529,735. This represents a 47.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,561,427 shares of company stock worth $933,874,848. Insiders own 2.10% of the company’s stock.

Chewy Price Performance

Shares of Chewy stock opened at $37.27 on Friday. The business has a 50-day simple moving average of $36.71 and a 200 day simple moving average of $32.32. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09. The firm has a market capitalization of $15.17 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 2.21 and a beta of 1.10.

Chewy (NYSE:CHWY) last released 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 return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts expect that Chewy, Inc. will post 0.24 EPS 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.