Chewy, Inc. (NYSE:CHWY) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in shares of Chewy, Inc. (NYSE:CHWY) by 0.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 531,709 shares of the company’s stock after purchasing an additional 3,814 shares during the quarter. Principal Financial Group Inc.’s holdings in Chewy were worth $15,574,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Castellan Group bought a new stake in Chewy in the 3rd quarter valued at about $5,282,000. Wilmington Savings Fund Society FSB acquired a new stake in Chewy in the third quarter worth about $63,000. Virtu Financial LLC bought a new stake in Chewy during the third quarter worth approximately $795,000. Geode Capital Management LLC boosted its stake in Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after buying an additional 119,633 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of Chewy by 19.4% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $34.07 on Friday. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $39.10. The company has a market capitalization of $13.87 billion, a PE ratio of 37.44, a PEG ratio of 4.28 and a beta of 1.12. The company has a 50 day moving average price of $31.66 and a two-hundred day moving average price of $28.54.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.05 by $0.15. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business’s quarterly 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, sell-side analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sumit Singh sold 71,161 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the sale, the chief executive officer now directly owns 77,838 shares of the company’s stock, valued at $2,529,735. This represents a 47.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,227,620 shares of company stock valued at $662,812,221 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CHWY shares. Royal Bank of Canada lifted their price target on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Piper Sandler lifted their price target on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and upped their price target for the company from $24.00 to $40.00 in a report on Wednesday, November 20th. UBS Group boosted their price objective on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Friday, November 22nd. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.60.

Chewy Company 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.