Geode Capital Management LLC Buys 119,633 Shares of Chewy, Inc. (NYSE:CHWY)

Geode Capital Management LLC raised its stake in Chewy, Inc. (NYSE:CHWY) by 8.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,550,844 shares of the company’s stock after acquiring an additional 119,633 shares during the quarter. Geode Capital Management LLC’s holdings in Chewy were worth $45,443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CHWY. Y Intercept Hong Kong Ltd lifted its stake in Chewy by 19.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 58,661 shares of the company’s stock valued at $1,718,000 after purchasing an additional 9,548 shares during the last quarter. CTC Alternative Strategies Ltd. purchased a new position in shares of Chewy during the 3rd quarter valued at $208,000. Wellington Management Group LLP grew its stake in shares of Chewy by 22.0% during 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 during the period. Taika Capital LP purchased a new stake in Chewy in the 3rd quarter worth about $1,758,000. Finally, Stifel Financial Corp raised its stake in Chewy by 5.6% in the 3rd quarter. Stifel Financial Corp now owns 378,339 shares of the company’s stock valued at $11,082,000 after acquiring an additional 19,938 shares during the period. 93.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CHWY shares. Wedbush reiterated an “outperform” rating and set a $39.00 target price (up previously from $35.00) on shares of Chewy in a research report on Thursday, December 5th. TD Cowen started coverage on shares of Chewy in a report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price objective for the company. Barclays boosted their target price on shares of Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, November 18th. The Goldman Sachs Group raised their price target on Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.60.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business’s 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 Securities & Exchange Commission, which is available through this link. Also, CEO Sumit Singh sold 71,161 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $32.50, for a total value of $2,312,732.50. Following the transaction, the chief executive officer now directly owns 77,838 shares in the company, valued at $2,529,735. This trade represents a 47.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,156,459 shares of company stock valued at $660,321,586. Corporate insiders own 2.10% of the company’s stock.

Chewy Price Performance

Shares of NYSE:CHWY opened at $34.91 on Tuesday. The company’s fifty day moving average price is $31.10 and its 200-day moving average price is $28.21. The firm has a market capitalization of $14.25 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 4.28 and a beta of 1.12. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10.

Chewy (NYSE:CHWY) last released 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 return on equity of 24.47% and a net margin of 3.51%. The business 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 firm earned ($0.08) earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts expect that Chewy, Inc. will post 0.24 EPS for the current year.

Chewy 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.