Sumitomo Mitsui Trust Group Inc. Acquires New Holdings in Chewy (NYSE:CHWY)

Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Chewy (NYSE:CHWY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 32,143 shares of the company's stock, valued at approximately $1,045,000.

A number of other large investors have also modified their holdings of CHWY. Allspring Global Investments Holdings LLC acquired a new position in Chewy in the 1st quarter worth approximately $19,552,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Chewy in the 1st quarter worth approximately $11,326,000. Generate Investment Management Ltd acquired a new position in Chewy in the 1st quarter worth approximately $4,667,000. Golden State Wealth Management LLC increased its holdings in Chewy by 104.6% in the 1st quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock worth $31,000 after buying an additional 481 shares during the period. Finally, Archford Capital Strategies LLC acquired a new position in Chewy in the 1st quarter worth approximately $676,000. Hedge funds and other institutional investors own 93.09% of the company's stock.

Insider Buying and Selling

In other news, CTO Satish Mehta sold 9,243 shares of Chewy stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $36.50, for a total transaction of $337,369.50. Following the transaction, the chief technology officer owned 276,467 shares in the company, valued at $10,091,045.50. The trade was a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of Chewy stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $41.75, for a total value of $1,250,000,010.00. The disclosure for this sale can be found here. Insiders have sold 30,167,614 shares of company stock worth $1,259,102,436 in the last quarter. 0.43% of the stock is currently owned by insiders.

Chewy Trading Up 0.5%

CHWY traded up $0.19 on Friday, hitting $41.17. 3,655,551 shares of the company's stock were exchanged, compared to its average volume of 6,219,858. Chewy has a fifty-two week low of $19.75 and a fifty-two week high of $48.62. The firm has a 50-day moving average price of $42.12 and a 200-day moving average price of $37.65. The stock has a market cap of $17.09 billion, a price-to-earnings ratio of 46.26, a P/E/G ratio of 8.62 and a beta of 1.71.

Chewy (NYSE:CHWY - Get Free Report) last announced its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The company had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.08 billion. During the same quarter in the previous year, the company posted $0.31 EPS. The firm's quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts predict that Chewy will post 0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Chewy in a report on Thursday, June 12th. Guggenheim reiterated a "buy" rating and issued a $45.00 price target (up previously from $42.00) on shares of Chewy in a report on Thursday, June 12th. Jefferies Financial Group reiterated a "hold" rating and issued a $43.00 price target (up previously from $41.00) on shares of Chewy in a report on Thursday, June 5th. UBS Group raised their price objective on shares of Chewy from $36.00 to $46.00 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Chewy from $36.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, June 12th. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.39.

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.