Legal & General Group Plc Acquires 76,836 Shares of Chewy, Inc. (NYSE:CHWY)

Legal & General Group Plc increased its holdings in Chewy, Inc. (NYSE:CHWY - Free Report) by 49.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 231,978 shares of the company's stock after purchasing an additional 76,836 shares during the period. Legal & General Group Plc owned approximately 0.06% of Chewy worth $7,769,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Mutual of America Capital Management LLC purchased a new position in shares of Chewy during the fourth quarter valued at approximately $2,915,000. Raymond James Financial Inc. bought a new position in shares of Chewy during the fourth quarter valued at $69,789,000. Geode Capital Management LLC lifted its holdings in shares of Chewy by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company's stock valued at $45,443,000 after buying an additional 119,633 shares during the period. Birch Hill Investment Advisors LLC purchased a new position in Chewy during the fourth quarter valued at $1,174,000. Finally, Money Concepts Capital Corp purchased a new stake in Chewy in the 4th quarter worth approximately $225,000. 93.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CHWY has been the subject of a number of recent research reports. Morgan Stanley cut their target price on shares of Chewy from $40.00 to $39.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Royal Bank of Canada restated an "outperform" rating and set a $42.00 price objective on shares of Chewy in a research note on Thursday, March 27th. Barclays raised their price objective on Chewy from $40.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Mizuho lifted their price objective on shares of Chewy from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. Finally, Wolfe Research raised shares of Chewy from a "peer perform" rating to an "outperform" rating in a research note on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.47.

Insider Buying and Selling at Chewy

In other Chewy news, CTO Satish Mehta sold 83,639 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $40.00, for a total value of $3,345,560.00. Following the sale, the chief technology officer now directly owns 334,218 shares in the company, valued at approximately $13,368,720. This trade represents a 20.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sumit Singh sold 9,285 shares of Chewy stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $40.00, for a total transaction of $371,400.00. Following the completion of the transaction, the chief executive officer now directly owns 489,750 shares in the company, valued at approximately $19,590,000. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 537,831 shares of company stock worth $20,246,710. Insiders own 2.10% of the company's stock.

Chewy Trading Up 2.4 %

NYSE:CHWY traded up $0.85 during trading hours on Thursday, hitting $36.23. 1,367,336 shares of the company traded hands, compared to its average volume of 7,400,198. The firm has a 50-day moving average of $34.09 and a 200 day moving average of $33.64. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $40.09. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 39.78, a P/E/G ratio of 2.21 and a beta of 1.68.

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

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.