Securian Asset Management Inc. Acquires New Stake in Chewy, Inc. (NYSE:CHWY)

Securian Asset Management Inc. bought a new stake in Chewy, Inc. (NYSE:CHWY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,490 shares of the company’s stock, valued at approximately $418,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHWY. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Chewy by 1.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock valued at $661,000 after buying an additional 301 shares during the period. Blue Trust Inc. raised its holdings in Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after acquiring an additional 320 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Chewy by 8.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company’s stock worth $189,000 after purchasing an additional 450 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its holdings in shares of Chewy by 30.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company’s stock worth $94,000 after purchasing an additional 650 shares during the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chewy news, CTO Satish Mehta sold 83,639 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $3,345,560.00. Following the sale, the chief technology officer now directly owns 334,218 shares in the company, valued at approximately $13,368,720. This trade represents a 20.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sumit Singh sold 9,285 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $40.00, for a total transaction of $371,400.00. Following the transaction, the chief executive officer now owns 489,750 shares of the company’s stock, valued at $19,590,000. This represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,797,494 shares of company stock valued at $315,156,588 in the last quarter. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Royal Bank of Canada increased their target price on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. raised their target price on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Wolfe Research raised shares of Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Piper Sandler lifted their price target on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Finally, Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $24.00 to $42.00 in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and an average target price of $37.30.

Chewy Stock Performance

Shares of CHWY stock opened at $33.05 on Tuesday. The stock has a market capitalization of $13.46 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09. The company’s 50-day simple moving average is $36.53 and its 200-day simple moving average is $32.90.

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.