Industrial Alliance Investment Management Inc. Acquires Shares of 1,610 Chewy, Inc. (NYSE:CHWY)

Industrial Alliance Investment Management Inc. acquired a new position in shares of Chewy, Inc. (NYSE:CHWY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,610 shares of the company’s stock, valued at approximately $44,000.

A number of other institutional investors have also recently bought and sold shares of the business. Baillie Gifford & Co. raised its stake in shares of Chewy by 7.2% during the 1st quarter. Baillie Gifford & Co. now owns 19,819,195 shares of the company’s stock worth $315,323,000 after purchasing an additional 1,336,431 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Chewy by 9.1% during the first quarter. Vanguard Group Inc. now owns 10,480,230 shares of the company’s stock worth $166,740,000 after purchasing an additional 875,532 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Chewy by 7.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,553,104 shares of the company’s stock valued at $96,787,000 after acquiring an additional 258,502 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Chewy during the fourth quarter worth about $42,223,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Chewy by 127.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock valued at $27,328,000 after acquiring an additional 963,540 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Stock Down 0.5 %

Shares of NYSE CHWY traded down $0.15 during mid-day trading on Friday, reaching $28.55. 6,519,563 shares of the company were exchanged, compared to its average volume of 9,681,798. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of 157.39, a P/E/G ratio of 3.48 and a beta of 1.03. The firm has a 50-day moving average of $25.62 and a 200 day moving average of $20.47.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.04 by $0.11. Chewy had a net margin of 0.73% and a return on equity of 16.62%. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.85 billion. On average, equities analysts forecast that Chewy, Inc. will post 0.23 earnings per share for the current year.

Insider Activity

In other news, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the sale, the chief executive officer now directly owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sumit Singh sold 14,338 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the completion of the sale, the chief executive officer now owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of Chewy stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $30.32, for a total transaction of $40,576,103.84. The disclosure for this sale can be found here. Insiders sold a total of 18,906,141 shares of company stock valued at $540,973,233 in the last quarter. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday. Robert W. Baird raised their price target on shares of Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Royal Bank of Canada upped their target price on Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday. Guggenheim increased their target price on shares of Chewy from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Barclays boosted their price objective on Chewy from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.43.

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.