Chewy, Inc. (NYSE:CHWY) Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC grew its holdings in Chewy, Inc. (NYSE:CHWY) by 47.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,866,680 shares of the company’s stock after buying an additional 1,243,981 shares during the period. Clearbridge Investments LLC owned 0.95% of Chewy worth $129,495,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Schroder Investment Management Group purchased a new position in Chewy in the 4th quarter worth approximately $205,000. Pictet Asset Management Holding SA increased its holdings in shares of Chewy by 1.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 515,999 shares of the company’s stock valued at $17,281,000 after purchasing an additional 7,419 shares during the last quarter. Norges Bank acquired a new stake in shares of Chewy in the fourth quarter valued at approximately $3,007,000. WINTON GROUP Ltd purchased a new position in Chewy during the fourth quarter worth approximately $1,512,000. Finally, Artisan Partners Limited Partnership acquired a new position in Chewy during the fourth quarter worth $10,164,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on CHWY. Seaport Res Ptn upgraded shares of Chewy to a “hold” rating in a research report on Monday, March 24th. Citigroup raised their price target on shares of Chewy from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday. Guggenheim set a $42.00 price objective on Chewy and gave the company a “buy” rating in a report on Tuesday, February 4th. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research note on Thursday. Finally, BNP Paribas lowered Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Chewy presently has an average rating of “Moderate Buy” and a consensus target price of $38.68.

Insider Activity

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the firm’s stock in a transaction that occurred on 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 SEC, which is available at this hyperlink. Also, CEO Sumit Singh sold 4,000 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $37.52, for a total transaction of $150,080.00. Following the completion of the transaction, the chief executive officer now directly owns 518,581 shares in the company, valued at $19,457,159.12. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,083,269 shares of company stock worth $290,611,129. 2.10% of the stock is currently owned by corporate insiders.

Chewy Price Performance

CHWY opened at $32.20 on Monday. The stock 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. The business has a fifty day moving average price of $35.90 and a 200 day moving average price of $33.23. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $3.20 billion. During the same period in the prior year, the firm earned $0.07 earnings per share. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, research analysts anticipate that Chewy, Inc. will post 0.24 earnings per share 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.