Victory Capital Management Inc. Boosts Stake in Chewy, Inc. (NYSE:CHWY)

Victory Capital Management Inc. increased its stake in shares of Chewy, Inc. (NYSE:CHWY) by 43.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 80,178 shares of the company’s stock after buying an additional 24,399 shares during the quarter. Victory Capital Management Inc.’s holdings in Chewy were worth $2,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Chewy by 9.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company’s stock worth $150,345,000 after acquiring an additional 399,330 shares during the period. FMR LLC raised its stake in shares of Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after purchasing an additional 2,497,689 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its stake in shares of Chewy by 5.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock worth $81,014,000 after purchasing an additional 138,768 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Chewy by 97.9% during the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after purchasing an additional 975,647 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in Chewy by 134.3% in the fourth quarter. Allianz Asset Management GmbH now owns 1,620,809 shares of the company’s stock valued at $54,281,000 after buying an additional 929,116 shares during the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on CHWY shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Wedbush reaffirmed an “outperform” rating and set a $39.00 price target (up from $35.00) on shares of Chewy in a research report on Thursday, December 5th. The Goldman Sachs Group boosted their price objective on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.30.

Insiders Place Their Bets

In related news, 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 transaction, the chief executive officer now directly owns 77,838 shares in the company, valued at approximately $2,529,735. The trade was a 47.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 8,797,494 shares of company stock worth $315,156,588. Corporate insiders own 2.10% of the company’s stock.

Chewy Stock Up 2.9 %

CHWY opened at $33.29 on Monday. The company has a market cap of $13.55 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $40.09. The company has a 50-day moving average price of $36.61 and a 200 day moving average price of $32.87.

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.