Sumitomo Mitsui Trust Group Inc. Acquires Shares of 32,143 Chewy (NYSE:CHWY)

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

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock worth $485,093,000 after purchasing an additional 3,493,926 shares in the last quarter. FMR LLC increased its holdings in shares of Chewy by 32.4% during the fourth quarter. FMR LLC now owns 5,288,757 shares of the company's stock valued at $177,120,000 after acquiring an additional 1,293,428 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Chewy by 47.4% in the 4th quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company's stock worth $129,495,000 after buying an additional 1,243,981 shares during the period. Durable Capital Partners LP acquired a new position in Chewy in the 4th quarter worth approximately $79,050,000. Finally, Invesco Ltd. increased its holdings in Chewy by 4,577.5% in the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company's stock worth $73,381,000 after buying an additional 2,144,302 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on CHWY shares. JMP Securities lowered their price objective on Chewy from $40.00 to $39.00 and set a "market outperform" rating on the stock in a research report on Monday, April 14th. Barclays upped their price objective on Chewy from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Mizuho lowered Chewy from an "outperform" rating to a "neutral" rating and upped their price objective for the stock from $43.00 to $47.00 in a research report on Monday, June 9th. The Goldman Sachs Group lifted their price target on shares of Chewy from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Chewy in a research note on Thursday, June 12th. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chewy presently has an average rating of "Moderate Buy" and an average price target of $43.39.

Insider Buying and Selling

In related news, CTO Satish Mehta sold 9,243 shares of the business's stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David Reeder sold 11,582 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $36.44, for a total value of $422,048.08. Following the sale, the chief financial officer owned 397,556 shares of the company's stock, valued at approximately $14,486,940.64. The trade was a 2.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,167,614 shares of company stock worth $1,259,102,436. 0.43% of the stock is owned by corporate insiders.

Chewy Stock Up 0.4%

NYSE CHWY traded up $0.16 during trading on Monday, hitting $41.45. The stock had a trading volume of 628,255 shares, compared to its average volume of 6,198,343. The company has a market capitalization of $17.21 billion, a PE ratio of 46.66, a PEG ratio of 8.62 and a beta of 1.71. The firm has a 50 day moving average price of $42.12 and a 200 day moving average price of $37.69. Chewy has a twelve month low of $19.75 and a twelve month high of $48.62.

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

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.