Allspring Global Investments Holdings LLC Makes New Investment in Chewy (NYSE:CHWY)

Allspring Global Investments Holdings LLC bought a new stake in Chewy (NYSE:CHWY - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 584,001 shares of the company's stock, valued at approximately $19,552,000. Allspring Global Investments Holdings LLC owned about 0.14% of Chewy as of its most recent SEC filing.

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

Insider Activity

In other news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of Chewy stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $41.75, for a total transaction of $1,250,000,010.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Satish Mehta sold 9,243 shares of the business's 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 of the company's stock, valued at approximately $10,091,045.50. The trade was a 3.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,167,614 shares of company stock valued at $1,259,102,436. 0.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup reaffirmed a "buy" rating and set a $49.00 target price (up from $42.00) on shares of Chewy in a research note on Thursday, June 12th. Wall Street Zen downgraded shares of Chewy from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. UBS Group lifted their price target on shares of Chewy from $36.00 to $46.00 and gave the company a "neutral" rating in a research report on Thursday, June 5th. Morgan Stanley reiterated an "overweight" rating and issued a $50.00 price objective (up from $39.00) on shares of Chewy in a report on Thursday, June 12th. Finally, Guggenheim reissued a "buy" rating and set a $45.00 target price (up previously from $42.00) on shares of Chewy in a research note on Thursday, June 12th. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $43.39.

Chewy Stock Performance

Shares of Chewy stock traded up $0.19 during trading hours on Friday, reaching $41.17. 3,655,551 shares of the company were exchanged, compared to its average volume of 6,231,787. The firm has a market cap of $17.09 billion, a PE ratio of 46.26, a PEG ratio of 8.62 and a beta of 1.71. The stock's fifty day moving average is $42.12 and its 200 day moving average is $37.61. Chewy has a 1 year low of $19.75 and a 1 year 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 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.08 billion. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The business's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. Research analysts expect that Chewy will post 0.24 earnings per share for the current 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.