Legacy Trust Boosts Holdings in Chewy, Inc. (NYSE:CHWY)

Legacy Trust lifted its stake in shares of Chewy, Inc. (NYSE:CHWY) by 9.9% in the fourth quarter, Holdings Channel reports. The firm owned 128,023 shares of the company’s stock after buying an additional 11,495 shares during the period. Legacy Trust’s holdings in Chewy were worth $4,287,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares during the last quarter. Blue Trust Inc. grew its stake in Chewy by 183.6% during 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. Planning Capital Management Corp purchased a new stake in Chewy during the 3rd quarter valued at about $52,000. Future Financial Wealth Managment LLC acquired a new stake in Chewy in the 3rd quarter valued at about $62,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Chewy in the 3rd quarter worth approximately $63,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $31.32, for a total value of $620,989,219.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sumit Singh sold 114,130 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were 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 of the company’s stock, valued at approximately $19,973,799.30. This trade represents a 17.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,103,513 shares of company stock valued at $916,453,941 over the last quarter. 2.10% of the stock is owned by insiders.

Chewy Trading Down 0.1 %

Shares of NYSE CHWY opened at $38.86 on Thursday. The business’s fifty day simple moving average is $34.74 and its 200-day simple moving average is $30.29. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $39.62. The stock has a market cap of $15.82 billion, a P/E ratio of 42.70, a PEG ratio of 4.16 and a beta of 1.10.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share 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 firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter last year, the company earned ($0.08) earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CHWY shares. Robert W. Baird lifted their price objective on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. BNP Paribas lowered Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. 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 report on Thursday, December 5th. Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and increased their price target for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.80.

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.