Geode Capital Management LLC Boosts Stock Position in Chewy $CHWY

Geode Capital Management LLC increased its stake in shares of Chewy (NYSE:CHWY) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,432,257 shares of the company’s stock after purchasing an additional 145,539 shares during the quarter. Geode Capital Management LLC’s holdings in Chewy were worth $146,515,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Malaga Cove Capital LLC acquired a new position in Chewy during the 4th quarter worth $364,000. Kestra Investment Management LLC grew its stake in Chewy by 18.4% during the 4th quarter. Kestra Investment Management LLC now owns 105,327 shares of the company’s stock worth $3,481,000 after purchasing an additional 16,364 shares in the last quarter. Harbour Investments Inc. grew its stake in Chewy by 81.4% during the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock worth $30,000 after purchasing an additional 407 shares in the last quarter. Kazazian Asset Management LLC grew its stake in Chewy by 62.4% during the 4th quarter. Kazazian Asset Management LLC now owns 84,000 shares of the company’s stock worth $2,776,000 after purchasing an additional 32,269 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in Chewy by 3.0% during the 4th quarter. Hantz Financial Services Inc. now owns 16,918 shares of the company’s stock worth $559,000 after purchasing an additional 490 shares in the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Da-Wai Hu sold 8,149 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $26.91, for a total value of $219,289.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sumit Singh sold 83,306 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $25.60, for a total value of $2,132,633.60. Following the completion of the sale, the chief executive officer directly owned 874,061 shares of the company’s stock, valued at $22,375,961.60. The trade was a 8.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders have sold 95,675 shares of company stock valued at $2,459,955. Insiders own 0.34% of the company’s stock.

Chewy Stock Performance

NYSE:CHWY opened at $20.83 on Friday. The stock has a 50-day simple moving average of $24.29 and a 200-day simple moving average of $28.01. The stock has a market cap of $8.68 billion, a P/E ratio of 40.06, a P/E/G ratio of 0.92 and a beta of 1.44. Chewy has a 1 year low of $19.30 and a 1 year high of $48.62.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, March 25th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.19). The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.26 billion. Chewy had a return on equity of 53.48% and a net margin of 1.77%.The company’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 earnings per share. On average, equities research analysts predict that Chewy will post 0.88 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $47.00 target price on shares of Chewy in a research note on Thursday. Wedbush lowered their target price on Chewy from $42.00 to $36.00 and set an “outperform” rating for the company in a research note on Thursday, March 26th. Argus raised Chewy to a “strong-buy” rating in a research note on Tuesday, April 7th. Raymond James Financial raised Chewy from a “market perform” rating to an “outperform” rating and set a $28.00 price objective for the company in a research report on Thursday, February 19th. Finally, Bank of America lowered their price objective on Chewy from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.38.

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.