Artisan Partners Limited Partnership Buys New Holdings in Chewy, Inc. (NYSE:CHWY)

Artisan Partners Limited Partnership purchased a new position in Chewy, Inc. (NYSE:CHWY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 303,504 shares of the company’s stock, valued at approximately $10,164,000.

A number of other institutional investors have also added to or reduced their stakes in CHWY. Charles Schwab Investment Management Inc. boosted its position in shares of Chewy by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 824,824 shares of the company’s stock worth $24,159,000 after acquiring an additional 46,629 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Chewy by 42.4% during the 3rd quarter. Cerity Partners LLC now owns 15,324 shares of the company’s stock valued at $449,000 after purchasing an additional 4,559 shares during the last quarter. Bank of Montreal Can grew its position in shares of Chewy by 261.2% during the third quarter. Bank of Montreal Can now owns 158,166 shares of the company’s stock valued at $4,739,000 after purchasing an additional 256,275 shares in the last quarter. FMR LLC increased its holdings in shares of Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after purchasing an additional 2,497,689 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of Chewy by 5.0% in the third quarter. D.A. Davidson & CO. now owns 26,219 shares of the company’s stock worth $768,000 after buying an additional 1,244 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Stock Performance

Shares of NYSE CHWY opened at $32.20 on Friday. The stock has a 50 day moving average price of $35.90 and a 200 day moving average price of $33.17. The firm has a market capitalization of $13.11 billion, a price-to-earnings ratio of 35.39, 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.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.25. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 EPS. Analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Barclays boosted their price target on shares of Chewy from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday. Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley upped their target price on shares of Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, BNP Paribas lowered Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and an average target price of $38.68.

Insider Activity

In related 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 stock was sold at an average price of $35.77, for a total transaction of $250,390,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sumit Singh sold 63,187 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was 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 of the company’s stock, valued at $24,224,985.18. This represents a 8.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,083,269 shares of company stock worth $290,611,129. 2.10% of the stock is currently 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.