13,674 Shares in Chewy, Inc. (NYSE:CHWY) Bought by Econ Financial Services Corp

Econ Financial Services Corp acquired a new stake in shares of Chewy, Inc. (NYSE:CHWY) during the fourth quarter, Holdings Channel.com reports. The firm acquired 13,674 shares of the company’s stock, valued at approximately $458,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CHWY. Fifth Third Bancorp increased its stake in Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares during the period. Blue Trust Inc. lifted its holdings in Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after buying an additional 905 shares in the last quarter. Planning Capital Management Corp purchased a new stake in Chewy in the 3rd quarter valued at about $52,000. Future Financial Wealth Managment LLC bought a new position in Chewy in the 3rd quarter worth about $62,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Chewy during the third quarter worth approximately $63,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Price Performance

Shares of CHWY opened at $38.60 on Wednesday. The company’s fifty day moving average price is $35.15 and its 200-day moving average price is $30.73. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09. The firm has a market capitalization of $15.72 billion, a PE ratio of 42.42, a price-to-earnings-growth ratio of 4.36 and a beta of 1.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the previous year, the business earned ($0.08) EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, research analysts anticipate that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Satish Mehta sold 8,056 shares of Chewy stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the completion of the transaction, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at $19,612,148.14. The trade was a 1.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 71,161 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the transaction, the chief executive officer now owns 77,838 shares of the company’s stock, valued at approximately $2,529,735. This represents a 47.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,196,437 shares of company stock worth $920,170,901. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $40.00 in a report on Wednesday, November 20th. Piper Sandler upped their price target on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. The Goldman Sachs Group lifted their price objective on shares of Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $24.00 to $42.00 in a report on Monday, January 6th. Finally, Morgan Stanley increased their target price on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

About Chewy

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.