13,674 Shares in Chewy, Inc. (NYSE:CHWY) Acquired by Econ Financial Services Corp

Econ Financial Services Corp purchased a new stake in Chewy, Inc. (NYSE:CHWY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,674 shares of the company’s stock, valued at approximately $458,000.

Other hedge funds have also recently made changes to their positions in the company. Money Concepts Capital Corp bought a new position in Chewy in the 4th quarter worth about $225,000. Yousif Capital Management LLC bought a new position in shares of Chewy in the fourth quarter worth approximately $1,856,000. Retirement Systems of Alabama purchased a new stake in Chewy in the fourth quarter valued at approximately $14,812,000. CENTRAL TRUST Co lifted its position in Chewy by 45.4% during the fourth quarter. CENTRAL TRUST Co now owns 3,913 shares of the company’s stock valued at $131,000 after purchasing an additional 1,222 shares during the last quarter. Finally, Oak Harvest Investment Services purchased a new position in Chewy in the 4th quarter worth approximately $2,245,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Stock Up 1.2 %

CHWY opened at $38.60 on Wednesday. The stock has a market capitalization of $15.72 billion, a price-to-earnings ratio of 42.42, a PEG ratio of 4.36 and a beta of 1.10. The firm has a 50 day moving average price of $35.15 and a 200-day moving average price of $30.73. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $40.09.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Chewy’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current year.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 9,285 shares of Chewy stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $371,400.00. Following the sale, the chief executive officer now owns 489,750 shares of the company’s stock, valued at $19,590,000. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $31.32, for a total transaction of $620,989,219.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,196,437 shares of company stock valued at $920,170,901. 2.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CHWY. Piper Sandler upped their target price on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Barclays upped their price objective on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Robert W. Baird raised their price objective on Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Wedbush reaffirmed an “outperform” rating and issued a $39.00 target price (up previously from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.80.

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.