Ameriprise Financial Inc. Grows Position in Chewy, Inc. (NYSE:CHWY)

Ameriprise Financial Inc. grew its position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 311.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 226,177 shares of the company's stock after acquiring an additional 171,273 shares during the quarter. Ameriprise Financial Inc. owned 0.06% of Chewy worth $7,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings 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 acquiring an additional 320 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after purchasing an additional 444 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Chewy by 8.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company's stock worth $189,000 after purchasing an additional 450 shares during the period. Wilmington Savings Fund Society FSB raised its stake in shares of Chewy by 30.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company's stock worth $94,000 after purchasing an additional 650 shares during the period. Finally, 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 purchasing an additional 650 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CHWY. The Goldman Sachs Group lifted their target price on Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Citigroup lifted their target price on Chewy from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. lowered their target price on Chewy from $40.00 to $36.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada reiterated an "outperform" rating and set a $42.00 target price on shares of Chewy in a research note on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft set a $27.00 price objective on Chewy and gave the company a "hold" rating in a research note on Monday, April 14th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Chewy has an average rating of "Moderate Buy" and an average price target of $38.47.

Chewy Trading Up 1.6%

CHWY traded up $0.69 during trading on Tuesday, reaching $44.61. The stock had a trading volume of 6,493,184 shares, compared to its average volume of 7,277,610. The stock's 50 day moving average is $36.65 and its two-hundred day moving average is $35.60. The company has a market capitalization of $18.45 billion, a price-to-earnings ratio of 49.02, a P/E/G ratio of 2.21 and a beta of 1.69. Chewy, Inc. has a one year low of $16.45 and a one year high of $45.01.

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

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 148,063 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $40.67, for a total value of $6,021,722.21. Following the transaction, the chief executive officer now owns 705,252 shares of the company's stock, valued at $28,682,598.84. This trade represents a 17.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of Chewy stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the sale, the chief technology officer now directly owns 262,853 shares in the company, valued at $9,357,566.80. This trade represents a 21.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 307,411 shares of company stock valued at $11,928,229. 2.10% of the stock is owned by company 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.