First Trust Advisors LP Makes New $5.83 Million Investment in Chewy, Inc. (NYSE:CHWY)

First Trust Advisors LP acquired a new position in shares of Chewy, Inc. (NYSE:CHWY) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 173,960 shares of the company’s stock, valued at approximately $5,826,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHWY. Fifth Third Bancorp boosted its stake in shares of Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after buying an additional 444 shares during the period. Blue Trust Inc. boosted its stake in shares of Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after buying an additional 320 shares during the period. Allworth Financial LP boosted its stake in shares of Chewy by 52.0% during the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after buying an additional 650 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Chewy during the 3rd quarter valued at $63,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Chewy during the 4th quarter valued at $86,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Stock Performance

NYSE:CHWY opened at $37.57 on Thursday. The firm’s 50-day moving average is $34.08 and its 200-day moving average is $33.91. Chewy, Inc. has a 52-week low of $14.85 and a 52-week high of $40.09. The company has a market cap of $15.54 billion, a price-to-earnings ratio of 41.29, a PEG ratio of 2.21 and a beta of 1.68.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.25. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the previous year, the firm posted $0.07 EPS. The business’s revenue was up 15.0% compared to the same quarter last year. Equities analysts predict that Chewy, Inc. will post 0.24 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHWY. Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of Chewy in a research note on Thursday, March 27th. The Goldman Sachs Group lifted their price objective on shares of Chewy from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Evercore ISI raised shares of Chewy from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $34.00 to $47.00 in a research note on Monday, January 13th. Finally, JMP Securities reduced their price objective on shares of Chewy from $40.00 to $39.00 and set a “market outperform” rating for the company in a research note on Monday, April 14th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chewy has a consensus rating of “Moderate Buy” and a consensus price target of $38.47.

Insider Transactions at Chewy

In related news, CFO David Reeder sold 307,558 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $37.48, for a total transaction of $11,527,273.84. Following the completion of the transaction, the chief financial officer now owns 546,257 shares in the company, valued at $20,473,712.36. This trade represents a 36.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Satish Mehta sold 71,365 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the transaction, the chief technology officer now owns 262,853 shares of the company’s stock, valued at $9,357,566.80. This trade represents a 21.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 444,907 shares of company stock worth $16,529,750. 2.10% of the stock is currently owned by company insiders.

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.