StoneX Group Inc. Makes New $551,000 Investment in Chewy, Inc. (NYSE:CHWY)

StoneX Group Inc. bought a new stake in shares of Chewy, Inc. (NYSE:CHWY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,465 shares of the company’s stock, valued at approximately $551,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Chewy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock worth $485,093,000 after acquiring an additional 3,493,926 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Chewy by 9.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company’s stock valued at $150,345,000 after purchasing an additional 399,330 shares during the last quarter. FMR LLC lifted its position in 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 buying an additional 2,497,689 shares during the last quarter. Clearbridge Investments LLC lifted its position in Chewy by 47.4% in the fourth quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company’s stock worth $129,495,000 after buying an additional 1,243,981 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Chewy during the fourth quarter valued at $69,789,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the sale, the chief technology officer now owns 262,853 shares of the company’s stock, valued at approximately $9,357,566.80. The trade was a 21.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sumit Singh sold 63,187 shares of the firm’s stock in a transaction on 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 directly owns 643,939 shares of the company’s stock, valued at approximately $24,224,985.18. This represents a 8.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,083,269 shares of company stock worth $290,611,129 in the last ninety days. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CHWY shares. JPMorgan Chase & Co. lifted their price target on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Guggenheim set a $42.00 target price on Chewy and gave the company a “buy” rating in a research report on Tuesday, February 4th. Morgan Stanley upped their target price on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research note on Thursday, March 27th. Finally, Seaport Res Ptn raised Chewy to a “hold” rating in a research report on Monday, March 24th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.68.

Chewy Stock Performance

Shares of Chewy stock opened at $34.02 on Thursday. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09. The company has a market capitalization of $13.85 billion, a PE ratio of 37.38, a P/E/G ratio of 2.21 and a beta of 1.23. The company has a 50-day simple moving average of $35.68 and a two-hundred day simple moving average of $33.26.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.25. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. Chewy’s revenue was up 15.0% compared to the same quarter last year. During the same period last year, the firm earned $0.07 earnings per share. On average, equities analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current fiscal 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.