Chewy, Inc. (NYSE:CHWY) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in Chewy, Inc. (NYSE:CHWY) by 1,391.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 142,558 shares of the company’s stock after acquiring an additional 132,999 shares during the quarter. Van ECK Associates Corp’s holdings in Chewy were worth $4,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after purchasing an additional 2,497,689 shares during the period. ArrowMark Colorado Holdings LLC increased its holdings in Chewy by 5.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock worth $81,014,000 after acquiring an additional 138,768 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in Chewy by 97.9% in the 3rd 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 in the last quarter. Geode Capital Management LLC increased its holdings in Chewy by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after acquiring an additional 119,633 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Chewy by 22.0% in the 3rd quarter. Wellington Management Group LLP now owns 921,741 shares of the company’s stock worth $26,998,000 after acquiring an additional 166,187 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CHWY shares. Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. JMP Securities reissued a “market outperform” rating and issued a $37.00 price target on shares of Chewy in a report on Monday, December 16th. Mizuho raised shares of Chewy from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $24.00 to $42.00 in a report on Monday, January 6th. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and upped their target price for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and a consensus target price of $36.80.

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 9,285 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $40.00, for a total transaction of $371,400.00. Following the sale, the chief executive officer now owns 489,750 shares of the company’s stock, valued at approximately $19,590,000. This represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Satish Mehta sold 83,639 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $40.00, for a total transaction of $3,345,560.00. Following the sale, the chief technology officer now directly owns 334,218 shares in the company, valued at $13,368,720. This represents a 20.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,561,427 shares of company stock valued at $933,874,848 over the last 90 days. 2.10% of the stock is owned by insiders.

Chewy Price Performance

NYSE CHWY opened at $38.04 on Wednesday. The firm’s 50-day moving average is $36.06 and its two-hundred day moving average is $31.56. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09. The stock has a market capitalization of $15.49 billion, a P/E ratio of 41.80, a PEG ratio of 2.32 and a beta of 1.10.

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