Townsquare Capital LLC Grows Holdings in Chewy, Inc. (NYSE:CHWY)

Townsquare Capital LLC increased its holdings in shares of Chewy, Inc. (NYSE:CHWY) by 17.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,451 shares of the company’s stock after acquiring an additional 1,386 shares during the period. Townsquare Capital LLC’s holdings in Chewy were worth $317,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Chewy by 1.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock worth $661,000 after buying an additional 301 shares during the last quarter. Blue Trust Inc. raised its position in shares of Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after purchasing an additional 320 shares during the last quarter. Fifth Third Bancorp boosted its stake in Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Chewy by 8.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company’s stock valued at $189,000 after purchasing an additional 450 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in Chewy by 30.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company’s stock worth $94,000 after buying an additional 650 shares during the last quarter. Institutional investors own 93.09% of the company’s stock.

Chewy Trading Down 3.6 %

Shares of Chewy stock opened at $33.97 on Tuesday. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09. The stock has a 50 day moving average of $34.17 and a 200 day moving average of $33.61. The firm has a market cap of $14.05 billion, a PE ratio of 37.33, a PEG ratio of 2.21 and a beta of 1.68.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.25. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. Chewy’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 earnings per share. As a group, equities research analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CHWY has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Chewy in a report on Thursday, March 27th. Wedbush reaffirmed an “outperform” rating and set a $39.00 price target on shares of Chewy in a report on Thursday, March 27th. Barclays boosted their target price on Chewy from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price objective on shares of Chewy in a report on Thursday, March 27th. Finally, Citigroup boosted their target price on shares of Chewy from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.47.

Insider Activity

In other Chewy news, CEO Sumit Singh sold 13,472 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $37.55, for a total value of $505,873.60. Following the transaction, the chief executive officer now directly owns 505,109 shares in the company, valued at $18,966,842.95. This represents a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the transaction, the chief technology officer now directly owns 262,853 shares in the company, valued at approximately $9,357,566.80. This trade represents a 21.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 551,303 shares of company stock valued at $20,752,583. 2.10% of the stock is currently owned by company insiders.

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.