Sanctuary Advisors LLC Increases Stock Position in Chewy, Inc. (NYSE:CHWY)

Sanctuary Advisors LLC raised its position in Chewy, Inc. (NYSE:CHWY) by 29.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,801 shares of the company’s stock after acquiring an additional 5,592 shares during the quarter. Sanctuary Advisors LLC’s holdings in Chewy were worth $831,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp grew its stake in shares of Chewy by 83.0% in the fourth 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. raised its position 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 purchasing an additional 905 shares during the last quarter. Planning Capital Management Corp purchased a new stake in Chewy in the 3rd quarter worth approximately $52,000. Wilmington Savings Fund Society FSB purchased a new stake in Chewy in the 3rd quarter worth approximately $63,000. Finally, Allworth Financial LP grew its position in shares of Chewy by 52.0% in the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after buying an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank of Canada upped their target price on Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. upped their price objective on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $28.00 to $40.00 in a research report on Friday, November 8th. Finally, Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.30.

Insider Activity

In related news, CEO Sumit Singh sold 71,161 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the sale, the chief executive officer now directly owns 77,838 shares of the company’s stock, valued at $2,529,735. This trade represents a 47.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David Reeder sold 307,558 shares of Chewy stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $37.48, for a total value of $11,527,273.84. Following the completion of the sale, the chief financial officer now owns 546,257 shares of the company’s stock, valued at $20,473,712.36. The trade was a 36.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,561,427 shares of company stock worth $933,874,848 over the last 90 days. 2.10% of the stock is currently owned by insiders.

Chewy Trading Up 0.9 %

Chewy stock opened at $36.16 on Friday. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09. The business’s fifty day simple moving average is $36.64 and its two-hundred day simple moving average is $32.17. The company has a market capitalization of $14.72 billion, a price-to-earnings ratio of 39.73, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. Chewy’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) EPS. On average, equities research analysts predict 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.