Chewy, Inc. (NYSE:CHWY) Shares Acquired by Invesco Ltd.

Invesco Ltd. boosted its position in Chewy, Inc. (NYSE:CHWY) by 4,577.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,191,146 shares of the company’s stock after purchasing an additional 2,144,302 shares during the period. Invesco Ltd.’s holdings in Chewy were worth $73,381,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in shares of Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after buying an additional 320 shares in the last quarter. Allworth Financial LP lifted its position in shares of Chewy by 52.0% during the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after acquiring an additional 650 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Chewy during the 3rd quarter worth $63,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Chewy in the 4th quarter worth $86,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Stock Down 1.1 %

CHWY stock opened at $34.28 on Tuesday. The firm has a 50 day moving average of $34.46 and a two-hundred day moving average of $33.41. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09. The company has a market capitalization of $14.18 billion, a price-to-earnings ratio of 37.67, a P/E/G ratio of 2.21 and a beta of 1.68.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CHWY shares. Guggenheim set a $42.00 price target on Chewy and gave the company a “buy” rating in a research report on Tuesday, February 4th. Wedbush reiterated an “outperform” rating and issued a $39.00 target price on shares of Chewy in a report on Thursday, March 27th. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price target on shares of Chewy in a research report on Thursday, March 27th. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Finally, Citigroup boosted their target price on shares of Chewy from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.58.

Insider Activity at Chewy

In other news, CFO David Reeder sold 307,558 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $37.48, for a total value of $11,527,273.84. Following the sale, the chief financial officer now directly owns 546,257 shares of the company’s stock, valued at approximately $20,473,712.36. This trade represents a 36.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 4,000 shares of Chewy stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $37.52, for a total value of $150,080.00. Following the completion of the transaction, the chief executive officer now owns 518,581 shares in the company, valued at $19,457,159.12. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 669,433 shares of company stock valued at $25,205,364. Corporate insiders own 2.10% of the company’s stock.

Chewy Company 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.