2,360,417 Shares in Chewy, Inc. (NYSE:CHWY) Bought by Durable Capital Partners LP

Durable Capital Partners LP bought a new stake in shares of Chewy, Inc. (NYSE:CHWY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,360,417 shares of the company's stock, valued at approximately $79,050,000. Durable Capital Partners LP owned approximately 0.58% of Chewy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Banque Transatlantique SA acquired a new position in shares of Chewy during the fourth quarter valued at about $30,000. Fifth Third Bancorp grew its position in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after purchasing an additional 444 shares during the last quarter. Blue Trust Inc. increased its stake in 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 purchasing an additional 320 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Chewy in the third quarter worth $63,000. Finally, Allworth Financial LP lifted its stake in shares of Chewy by 52.0% during the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company's stock worth $71,000 after buying an additional 650 shares during the period. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Trading Up 1.1 %

Shares of Chewy stock opened at $38.22 on Wednesday. Chewy, Inc. has a twelve month low of $15.08 and a twelve month high of $40.09. The firm's 50-day moving average price is $34.24 and its 200 day moving average price is $34.17. The firm has a market capitalization of $15.81 billion, a PE ratio of 42.00, a P/E/G ratio of 2.21 and a beta of 1.69.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the company posted $0.07 earnings per share. The business's revenue was up 15.0% on a year-over-year basis. On average, sell-side analysts predict that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Insider Transactions at Chewy

In other Chewy news, CFO David Reeder sold 11,582 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $36.44, for a total transaction of $422,048.08. Following the transaction, the chief financial officer now owns 397,556 shares of the company's stock, valued at approximately $14,486,940.64. The trade was a 2.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sumit Singh sold 8,552 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total value of $285,209.20. Following the completion of the sale, the chief executive officer now owns 62,096 shares of the company's stock, valued at approximately $2,070,901.60. The trade was a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 416,163 shares of company stock valued at $15,399,494. Corporate insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CHWY. Barclays raised their target price on Chewy from $40.00 to $44.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft set a $27.00 price objective on Chewy and gave the stock a "hold" rating in a research note on Monday, April 14th. Mizuho increased their price target on shares of Chewy from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Thursday, March 27th. Guggenheim set a $42.00 price objective on shares of Chewy and gave the company a "buy" rating in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group increased their price objective on shares of Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $38.47.

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.

Want to see what other hedge funds are holding CHWY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chewy, Inc. (NYSE:CHWY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.