Federated Hermes Inc. Purchases Shares of 15,331 Chewy, Inc. (NYSE:CHWY)

Federated Hermes Inc. acquired a new position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 15,331 shares of the company's stock, valued at approximately $513,000.

Several other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp raised its holdings in Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after purchasing an additional 444 shares in the last quarter. Blue Trust Inc. increased its position in Chewy by 22.9% during 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 during the period. Allworth Financial LP raised its stake in shares of Chewy by 52.0% during the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company's stock worth $71,000 after buying an additional 650 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Chewy in the 3rd quarter valued at approximately $63,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Chewy in the fourth quarter valued at approximately $86,000. Institutional investors and hedge funds own 93.09% of the company's stock.

Chewy Stock Performance

Shares of CHWY stock traded up $2.12 during trading hours on Tuesday, hitting $36.00. 6,031,085 shares of the company were exchanged, compared to its average volume of 7,411,321. The stock has a market capitalization of $14.89 billion, a price-to-earnings ratio of 39.56, a P/E/G ratio of 2.21 and a beta of 1.68. The business's 50-day simple moving average is $34.14 and its two-hundred day simple moving average is $33.63. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CHWY shares. The Goldman Sachs Group increased their price target on shares of Chewy from $40.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Barclays upped their price target on Chewy from $40.00 to $44.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Royal Bank of Canada reiterated an "outperform" rating and set a $42.00 target price on shares of Chewy in a research report on Thursday, March 27th. Needham & Company LLC restated a "hold" rating on shares of Chewy in a research report on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft set a $27.00 price objective on shares of Chewy and gave the company a "hold" rating in a research note on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $38.47.

Insider Buying and Selling

In related news, CTO Satish Mehta sold 83,639 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $3,345,560.00. Following the completion of the transaction, the chief technology officer now directly owns 334,218 shares of the company's stock, valued at $13,368,720. This represents a 20.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sumit Singh sold 9,285 shares of Chewy stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $40.00, for a total value of $371,400.00. Following the sale, the chief executive officer now directly owns 489,750 shares in the company, valued at $19,590,000. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 551,303 shares of company stock worth $20,752,583 in the last three months. 2.10% of the stock is owned by insiders.

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.