Handelsbanken Fonder AB Increases Holdings in Chewy, Inc. (NYSE:CHWY)

Handelsbanken Fonder AB boosted its position in Chewy, Inc. (NYSE:CHWY) by 12.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,100 shares of the company’s stock after purchasing an additional 5,100 shares during the period. Handelsbanken Fonder AB’s holdings in Chewy were worth $1,321,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. purchased a new position in Chewy in the 2nd quarter valued at about $33,000. Industrial Alliance Investment Management Inc. acquired a new stake in Chewy during the 2nd quarter valued at $44,000. First Horizon Advisors Inc. acquired a new stake in Chewy during the 2nd quarter valued at $48,000. Skylands Capital LLC bought a new position in Chewy during the 2nd quarter valued at $52,000. Finally, Future Financial Wealth Managment LLC bought a new position in Chewy during the 1st quarter valued at $65,000. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Stock Down 1.5 %

Shares of NYSE:CHWY opened at $29.09 on Friday. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $39.10. The company has a market cap of $12.16 billion, a P/E ratio of 35.48, a price-to-earnings-growth ratio of 3.04 and a beta of 1.05. The company’s fifty day moving average is $27.90 and its two-hundred day moving average is $23.11.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.86 billion. Equities research analysts anticipate that Chewy, Inc. will post 0.32 earnings per share for the current year.

Insider Transactions at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Chewy news, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the sale, the chief executive officer now directly owns 1,398,271 shares in the company, valued at $31,097,547.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,888,627 shares of company stock valued at $790,397,620. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Robert W. Baird raised their price target on shares of Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Wolfe Research initiated coverage on shares of Chewy in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Evercore ISI raised their target price on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Argus cut shares of Chewy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, Piper Sandler reiterated an “overweight” rating and set a $35.00 price objective on shares of Chewy in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Chewy has an average rating of “Moderate Buy” and a consensus target price of $29.55.

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.