Sumitomo Mitsui Trust Group Inc. Makes New Investment in Chewy (NYSE:CHWY)

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

Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in shares of Chewy by 150.2% during the 1st quarter. Parallel Advisors LLC now owns 788 shares of the company's stock valued at $26,000 after buying an additional 473 shares during the last quarter. Banque Transatlantique SA bought a new stake in Chewy in the 4th quarter valued at about $30,000. Golden State Wealth Management LLC raised its stake in Chewy by 104.6% in the 1st quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after acquiring an additional 481 shares during the period. North Star Investment Management Corp. lifted its holdings in Chewy by 26.6% during the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock valued at $55,000 after purchasing an additional 353 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Chewy by 225.7% during the first quarter. UMB Bank n.a. now owns 1,866 shares of the company's stock worth $61,000 after purchasing an additional 1,293 shares during the period. Hedge funds and other institutional investors own 93.09% of the company's stock.

Chewy Trading Down 0.6%

Shares of Chewy stock traded down $0.26 on Monday, hitting $41.03. 5,295,342 shares of the company traded hands, compared to its average volume of 6,216,165. Chewy has a 12-month low of $19.75 and a 12-month high of $48.62. The company has a market cap of $17.04 billion, a P/E ratio of 46.10, a P/E/G ratio of 8.62 and a beta of 1.71. The firm's 50-day simple moving average is $42.12 and its 200 day simple moving average is $37.69.

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

Insider Transactions at Chewy

In other Chewy news, CTO Satish Mehta sold 9,243 shares of the company'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 value of $337,369.50. Following the completion of the sale, the chief technology officer owned 276,467 shares of the company's stock, valued at $10,091,045.50. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 148,063 shares of Chewy stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.67, for a total transaction of $6,021,722.21. Following the transaction, the chief executive officer directly owned 705,252 shares in the company, valued at $28,682,598.84. This trade represents a 17.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,167,614 shares of company stock valued at $1,259,102,436. 0.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on CHWY. Deutsche Bank Aktiengesellschaft set a $27.00 price target on shares of Chewy and gave the company a "hold" rating in a research note on Monday, April 14th. Guggenheim reissued a "buy" rating and set a $45.00 target price (up previously from $42.00) on shares of Chewy in a report on Thursday, June 12th. UBS Group increased their target price on Chewy from $36.00 to $46.00 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. Seaport Res Ptn upgraded Chewy to a "hold" rating in a research report on Monday, March 24th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $43.00 price objective (up from $41.00) on shares of Chewy in a research note on Thursday, June 5th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, Chewy has a consensus rating of "Moderate Buy" and an average price target of $43.39.

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.