Chewy, Inc. (NYSE:CHWY) Stock Holdings Increased by Eagle Asset Management Inc.

Eagle Asset Management Inc. increased its stake in Chewy, Inc. (NYSE:CHWY) by 97.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,972,136 shares of the company’s stock after acquiring an additional 975,647 shares during the period. Eagle Asset Management Inc.’s holdings in Chewy were worth $60,485,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new stake in shares of Chewy in the 2nd quarter valued at approximately $33,000. Blue Trust Inc. raised its stake in shares of Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after acquiring an additional 905 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in Chewy during the second quarter worth approximately $44,000. First Horizon Advisors Inc. acquired a new position in Chewy during the second quarter valued at approximately $48,000. Finally, Skylands Capital LLC bought a new position in Chewy in the 2nd quarter worth $52,000. Institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

CHWY has been the subject of several research reports. Morgan Stanley increased their price objective on Chewy from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Evercore ISI lifted their target price on Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. TD Cowen assumed coverage on Chewy in a report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price target for the company. Piper Sandler reissued an “overweight” rating and set a $35.00 price objective on shares of Chewy in a report on Friday, September 20th. Finally, Barclays upped their target price on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.25.

Chewy Price Performance

Shares of Chewy stock opened at $35.74 on Friday. The firm has a 50 day simple moving average of $29.85 and a 200 day simple moving average of $25.85. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $39.10. The firm has a market cap of $14.94 billion, a P/E ratio of 43.58, a P/E/G ratio of 3.29 and a beta of 1.06.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. On average, sell-side analysts expect that Chewy, Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.

About Chewy

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.