Howard Financial Services LTD. Acquires New Stake in Chewy, Inc. (NYSE:CHWY)

Howard Financial Services LTD. acquired a new position in shares of Chewy, Inc. (NYSE:CHWY) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,712 shares of the company’s stock, valued at approximately $225,000.

Several other hedge funds also recently made changes to their positions in CHWY. BC Partners Advisors L.P. acquired a new position in shares of Chewy during the second quarter worth about $7,517,800,000. FMR LLC raised its stake in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after buying an additional 2,497,689 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after buying an additional 2,636,526 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in shares of Chewy by 5.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock valued at $81,014,000 after buying an additional 138,768 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in 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 acquiring an additional 975,647 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group raised their target price on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. BNP Paribas downgraded shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. increased their target price on shares of Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. TD Cowen assumed coverage on Chewy in a research note on Wednesday, October 9th. They set a “buy” rating and a $38.00 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $39.00 price objective (up from $35.00) on shares of Chewy in a report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Insiders Place Their Bets

In other Chewy news, CEO Sumit Singh sold 114,130 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $37.70, for a total transaction of $4,302,701.00. Following the completion of the sale, the chief executive officer now directly owns 529,809 shares in the company, valued at $19,973,799.30. This represents a 17.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. Insiders have sold a total of 28,086,041 shares of company stock valued at $915,797,988 over the last quarter. Company insiders own 2.10% of the company’s stock.

Chewy Stock Down 0.8 %

Shares of Chewy stock opened at $36.99 on Friday. The firm has a market cap of $15.06 billion, a PE ratio of 40.64, a P/E/G ratio of 4.06 and a beta of 1.10. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $39.10. The business’s fifty day moving average is $33.97 and its two-hundred day moving average is $29.59.

Chewy (NYSE:CHWY) last posted 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 during the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) EPS. Equities research analysts anticipate that Chewy, Inc. will post 0.24 EPS 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.