Bartlett & CO. Wealth Management LLC Raises Stake in Chewy, Inc. (NYSE:CHWY)

Bartlett & CO. Wealth Management LLC boosted its holdings in Chewy, Inc. (NYSE:CHWY) by 1,502,983.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 90,185 shares of the company’s stock after purchasing an additional 90,179 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Chewy were worth $3,020,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC purchased a new position in Chewy in the 2nd quarter worth approximately $11,916,000. Eagle Asset Management Inc. lifted its position in shares of Chewy by 97.9% during the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after purchasing an additional 975,647 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Chewy in the second quarter valued at $673,000. Centiva Capital LP acquired a new stake in Chewy during the 3rd quarter valued at $2,949,000. Finally, Geode Capital Management LLC increased its stake in Chewy by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after buying an additional 119,633 shares during the period. 93.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on CHWY. Royal Bank of Canada upped their price objective on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $24.00 to $42.00 in a research note on Monday, January 6th. UBS Group lifted their price objective on Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Wedbush reiterated an “outperform” rating and set a $39.00 target price (up from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Finally, Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $28.00 to $40.00 in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Chewy has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Insider Buying and Selling at Chewy

In related news, CEO Sumit Singh sold 71,161 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the sale, the chief executive officer now owns 77,838 shares of the company’s stock, valued at $2,529,735. The trade was a 47.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Satish Mehta sold 8,056 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the transaction, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at approximately $19,612,148.14. The trade was a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,090,041 shares of company stock valued at $915,948,068 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Chewy Stock Performance

Chewy stock opened at $37.99 on Friday. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10. The company has a 50-day simple moving average of $34.22 and a 200-day simple moving average of $29.89. The firm has a market capitalization of $15.47 billion, a P/E ratio of 41.75, a P/E/G ratio of 4.16 and a beta of 1.10.

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

Chewy Company 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.