Prudential PLC Invests $1.06 Million in Chewy $CHWY

Prudential PLC bought a new position in shares of Chewy (NYSE:CHWY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,025 shares of the company’s stock, valued at approximately $1,058,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Winslow Asset Management Inc. acquired a new position in Chewy during the third quarter worth about $6,171,000. Vanguard Group Inc. boosted its holdings in Chewy by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 19,920,347 shares of the company’s stock valued at $658,367,000 after purchasing an additional 1,017,214 shares during the last quarter. WINTON GROUP Ltd boosted its holdings in Chewy by 110.6% in the 3rd quarter. WINTON GROUP Ltd now owns 239,800 shares of the company’s stock valued at $9,700,000 after purchasing an additional 125,943 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Chewy by 218.6% in the 3rd quarter. Intech Investment Management LLC now owns 173,300 shares of the company’s stock valued at $7,010,000 after purchasing an additional 118,903 shares during the last quarter. Finally, Champlain Investment Partners LLC acquired a new position in Chewy in the 3rd quarter valued at about $89,022,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CHWY shares. Wedbush decreased their target price on shares of Chewy from $42.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday, March 26th. BNP Paribas Exane reissued a “neutral” rating and set a $28.00 target price (down from $38.00) on shares of Chewy in a research note on Thursday, March 26th. Bank of America cut their target price on Chewy from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Morgan Stanley cut their target price on Chewy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Finally, Guggenheim reiterated a “buy” rating and set a $45.00 price target on shares of Chewy in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and an average price target of $41.24.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 4,220 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $25.60, for a total transaction of $108,032.00. Following the sale, the chief executive officer directly owned 123,955 shares in the company, valued at $3,173,248. This represents a 3.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Da-Wai Hu sold 8,149 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $26.91, for a total transaction of $219,289.59. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 95,675 shares of company stock worth $2,459,955. 0.34% of the stock is owned by company insiders.

Chewy Stock Performance

NYSE:CHWY opened at $20.59 on Monday. The stock has a market capitalization of $8.58 billion, a P/E ratio of 39.59, a PEG ratio of 0.92 and a beta of 1.44. The company has a 50 day moving average price of $24.17 and a 200 day moving average price of $27.91. Chewy has a fifty-two week low of $19.30 and a fifty-two week high of $48.62.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.19). The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Chewy had a return on equity of 53.48% and a net margin of 1.77%.The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 EPS. Research analysts forecast that Chewy will post 0.87 earnings per share for the current fiscal year.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.