Canada Pension Plan Investment Board Increases Stock Position in Chewy, Inc. (NYSE:CHWY)

Canada Pension Plan Investment Board raised its stake in Chewy, Inc. (NYSE:CHWY - Free Report) by 145.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 814,600 shares of the company's stock after acquiring an additional 482,600 shares during the period. Canada Pension Plan Investment Board owned approximately 0.20% of Chewy worth $27,281,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp grew its holdings in shares of Chewy by 83.0% during the fourth 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 last quarter. Blue Trust Inc. increased its holdings in shares of Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock worth $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. Allworth Financial LP grew its stake in shares of Chewy by 52.0% in the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company's stock worth $71,000 after acquiring an additional 650 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Chewy during the 4th quarter valued at $86,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chewy

In other Chewy news, CFO David Reeder sold 307,558 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $37.48, for a total value of $11,527,273.84. Following the completion of the sale, the chief financial officer now directly owns 546,257 shares of the company's stock, valued at $20,473,712.36. The trade was a 36.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sumit Singh sold 8,552 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total transaction of $285,209.20. Following the completion of the transaction, the chief executive officer now owns 62,096 shares in the company, valued at $2,070,901.60. This represents 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 537,831 shares of company stock worth $20,246,710. 2.10% of the stock is currently owned by company insiders.

Chewy Stock Up 2.0 %

NYSE CHWY traded up $0.71 during trading hours on Friday, hitting $36.74. 1,650,495 shares of the company were exchanged, compared to its average volume of 7,391,778. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $40.09. The stock has a 50-day moving average price of $34.06 and a 200 day moving average price of $33.70. The stock has a market cap of $15.19 billion, a PE ratio of 40.40, a price-to-earnings-growth ratio of 2.21 and a beta of 1.68.

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. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. Chewy's revenue was up 15.0% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. As a group, sell-side analysts anticipate that Chewy, Inc. will post 0.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on CHWY shares. Wolfe Research upgraded Chewy from a "peer perform" rating to an "outperform" rating in a research report on Friday, January 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $42.00 price objective on shares of Chewy in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft set a $27.00 target price on shares of Chewy and gave the company a "hold" rating in a report on Monday, April 14th. The Goldman Sachs Group lifted their price target 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. Finally, JPMorgan Chase & Co. decreased their target price on Chewy from $40.00 to $36.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.47.

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.