Money Concepts Capital Corp Makes New Investment in Chewy, Inc. (NYSE:CHWY)

Money Concepts Capital Corp bought a new position in shares of Chewy, Inc. (NYSE:CHWY) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 6,730 shares of the company’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHWY. Yousif Capital Management LLC acquired a new position in shares of Chewy during the fourth quarter valued at about $1,856,000. Retirement Systems of Alabama acquired a new position in shares of Chewy during the fourth quarter valued at about $14,812,000. CENTRAL TRUST Co raised its position in shares of 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 buying an additional 1,222 shares during the last quarter. Oak Harvest Investment Services acquired a new position in shares of Chewy during the fourth quarter valued at about $2,245,000. Finally, Legacy Trust raised its position in shares of Chewy by 9.9% during the fourth quarter. Legacy Trust now owns 128,023 shares of the company’s stock valued at $4,287,000 after buying an additional 11,495 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Insider Activity

In related news, CEO Sumit Singh sold 71,161 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $32.50, for a total value of $2,312,732.50. Following the transaction, the chief executive officer now directly owns 77,838 shares in the company, valued at $2,529,735. This represents a 47.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Satish Mehta sold 8,056 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the completion of the transaction, the chief technology officer now owns 585,962 shares in the company, valued at $19,612,148.14. This represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,196,437 shares of company stock valued at $920,170,901 over the last three months. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. BNP Paribas lowered shares of Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research report on Thursday, December 5th. Wolfe Research raised shares of Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Royal Bank of Canada upped their target price on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Finally, Wedbush reissued 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. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Chewy presently has an average rating of “Moderate Buy” and a consensus target price of $36.80.

Chewy Price Performance

CHWY opened at $38.65 on Friday. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09. The company’s 50 day simple moving average is $35.25 and its 200-day simple moving average is $30.78. The stock has a market capitalization of $15.74 billion, a P/E ratio of 42.47, a price-to-earnings-growth ratio of 4.36 and a beta of 1.10.

Chewy (NYSE:CHWY) last released 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. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the prior year, the firm earned ($0.08) earnings per share. Chewy’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that Chewy, Inc. will post 0.24 EPS for the current year.

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.