Principal Financial Group Inc. lifted its stake in shares of Chewy, Inc. (NYSE:CHWY – Free Report) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 531,709 shares of the company’s stock after buying an additional 3,814 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of Chewy worth $15,574,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Susquehanna Fundamental Investments LLC acquired a new position in shares of Chewy in the second quarter worth about $11,916,000. Russell Investments Group Ltd. grew its stake in shares of Chewy by 27.7% in the 1st quarter. Russell Investments Group Ltd. now owns 86,542 shares of the company’s stock valued at $1,355,000 after buying an additional 18,768 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Chewy by 127.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock valued at $27,328,000 after buying an additional 963,540 shares during the period. Cetera Advisors LLC acquired a new position in shares of Chewy in the 1st quarter worth approximately $334,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Chewy in the 2nd quarter worth approximately $673,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the stock. TD Cowen assumed coverage on shares of Chewy in a report on Wednesday, October 9th. They set a “buy” rating and a $38.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Evercore ISI raised their price objective on shares of Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Citigroup raised shares of Chewy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $28.00 to $40.00 in a research report on Friday, November 8th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Chewy in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.15.
Check Out Our Latest Stock Report on CHWY
Insider Transactions at Chewy
In other news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total value of $789,999,991.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.
Chewy Price Performance
NYSE:CHWY opened at $31.70 on Friday. The firm has a 50 day simple moving average of $29.35 and a 200-day simple moving average of $25.23. The firm has a market cap of $13.25 billion, a PE ratio of 38.66, a P/E/G ratio of 3.27 and a beta of 1.06. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10.
Chewy (NYSE:CHWY – Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.86 billion. As a group, sell-side analysts expect that Chewy, Inc. will post 0.32 earnings per share for the current fiscal year.
Chewy Company Profile
(Free Report)
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.
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