Prudential PLC Makes New $1.06 Million Investment in Chewy $CHWY

Prudential PLC bought a new position in shares of Chewy (NYSE:CHWY) during the fourth quarter, HoldingsChannel.com reports. The firm bought 32,025 shares of the company’s stock, valued at approximately $1,058,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CHWY. CoreCap Advisors LLC raised its holdings in shares of Chewy by 306.3% in the 4th quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock valued at $28,000 after purchasing an additional 637 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of Chewy by 81.4% in the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock valued at $30,000 after purchasing an additional 407 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in shares of Chewy in the 2nd quarter valued at $30,000. Montag A & Associates Inc. raised its holdings in shares of Chewy by 58.8% in the 4th quarter. Montag A & Associates Inc. now owns 1,270 shares of the company’s stock valued at $42,000 after purchasing an additional 470 shares in the last quarter. Finally, Strategic Advocates LLC acquired a new stake in shares of Chewy in the 3rd quarter valued at $43,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Price Performance

NYSE CHWY opened at $20.59 on Monday. The firm’s fifty day moving average price is $24.17 and its 200 day moving average price is $27.91. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 39.59, a price-to-earnings-growth ratio of 0.92 and a beta of 1.44. Chewy has a 12 month low of $19.30 and a 12 month high of $48.62.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CHWY. Guggenheim restated a “buy” rating and issued a $45.00 price objective on shares of Chewy in a report on Monday, April 27th. Wedbush reduced their price objective 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. Weiss Ratings lowered shares of Chewy from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 19th. Argus upgraded shares of Chewy to a “strong-buy” rating in a report on Tuesday, April 7th. Finally, BNP Paribas Exane restated a “neutral” rating and issued a $28.00 price objective (down from $38.00) on shares of Chewy in a report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Chewy has an average rating of “Moderate Buy” and an average target price of $41.24.

Insiders Place Their Bets

In related news, General Counsel Da-Wai Hu sold 8,149 shares of the stock in a transaction on Wednesday, April 1st. The shares were 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 SEC, which can be accessed through the SEC website. Also, CEO Sumit Singh sold 83,306 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $25.60, for a total transaction of $2,132,633.60. Following the completion of the transaction, the chief executive officer directly owned 874,061 shares in the company, valued at $22,375,961.60. This trade represents a 8.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 95,675 shares of company stock worth $2,459,955 over the last ninety days. Insiders own 0.34% of the company’s stock.

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.