Chewy $CHWY Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in Chewy (NYSE:CHWY) by 17.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,336,629 shares of the company’s stock after buying an additional 642,584 shares during the quarter. Bank of New York Mellon Corp’s holdings in Chewy were worth $143,326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CHWY. Wellington Management Group LLP grew its stake in shares of Chewy by 295.9% during the 3rd quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock worth $712,841,000 after purchasing an additional 13,171,325 shares during the period. AQR Capital Management LLC grew its stake in shares of Chewy by 120.2% during the 3rd quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock worth $407,948,000 after purchasing an additional 5,564,803 shares during the period. Viking Global Investors LP purchased a new position in shares of Chewy in the 3rd quarter valued at about $221,815,000. Norges Bank purchased a new position in shares of Chewy in the 4th quarter valued at about $154,647,000. Finally, State Street Corp increased its stake in shares of Chewy by 75.5% in the 2nd quarter. State Street Corp now owns 6,170,197 shares of the company’s stock valued at $262,974,000 after purchasing an additional 2,654,496 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Insider Activity

In other news, General Counsel Da-Wai Hu sold 8,149 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $26.91, for a total transaction of $219,289.59. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sumit Singh sold 83,306 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $25.60, for a total transaction of $2,132,633.60. Following the transaction, the chief executive officer directly owned 874,061 shares in the company, valued at approximately $22,375,961.60. The trade was a 8.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 95,675 shares of company stock worth $2,459,955. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

CHWY has been the topic of a number of research analyst reports. Argus raised shares of Chewy to a “strong-buy” rating in a research note on Tuesday, April 7th. Weiss Ratings cut shares of Chewy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 19th. Zacks Research cut shares of Chewy from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Citigroup dropped their price target on shares of Chewy from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Chewy in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and an average price target of $41.24.

Chewy Stock Down 1.1%

Shares of CHWY opened at $20.59 on Friday. Chewy has a 52-week low of $19.30 and a 52-week high of $48.62. The firm’s fifty day moving average is $24.17 and its two-hundred day moving average is $27.95. The stock has a market cap of $8.58 billion, a PE ratio of 39.59, a price-to-earnings-growth ratio of 0.92 and a beta of 1.44.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, March 25th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.19). Chewy had a return on equity of 53.48% and a net margin of 1.77%.The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period last year, the firm earned $0.28 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts anticipate that Chewy will post 0.87 earnings per share for the current year.

Chewy Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.