Chewy (NYSE:CHWY) Shares Purchased by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC boosted its stake in shares of Chewy (NYSE:CHWY - Free Report) by 190.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 101,795 shares of the company's stock after acquiring an additional 66,745 shares during the period. Birch Hill Investment Advisors LLC's holdings in Chewy were worth $3,309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CHWY. North Star Investment Management Corp. increased its position in shares of Chewy by 26.6% during the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock worth $55,000 after purchasing an additional 353 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Chewy by 5.3% during the 1st quarter. Park Avenue Securities LLC now owns 7,281 shares of the company's stock worth $237,000 after purchasing an additional 364 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Chewy by 8.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company's stock worth $189,000 after buying an additional 450 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Chewy by 150.2% in the first 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. Finally, Allworth Financial LP lifted its stake in shares of Chewy by 52.0% in the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company's stock worth $71,000 after buying an additional 650 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Stock Up 0.7%

Shares of CHWY traded up $0.28 during trading on Friday, reaching $41.83. 12,343,399 shares of the company traded hands, compared to its average volume of 6,868,567. The stock has a 50-day simple moving average of $40.56 and a 200-day simple moving average of $36.86. The stock has a market cap of $17.37 billion, a PE ratio of 47.00, a price-to-earnings-growth ratio of 8.52 and a beta of 1.75. Chewy has a twelve month low of $19.75 and a twelve month high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last posted its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, beating 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 firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the firm earned $0.31 EPS. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts predict that Chewy will post 0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

CHWY has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft set a $27.00 price objective on shares of Chewy and gave the company a "hold" rating in a report on Monday, April 14th. JPMorgan Chase & Co. increased their price target on Chewy from $36.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Barclays lifted 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. Citigroup restated a "buy" rating and issued a $49.00 target price (up from $42.00) on shares of Chewy in a report on Thursday, June 12th. Finally, Mizuho lowered Chewy from an "outperform" rating to a "neutral" rating and lifted their price target for the stock from $43.00 to $47.00 in a report on Monday, June 9th. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $43.39.

Insider Buying and Selling at Chewy

In other news, CFO David Reeder sold 11,582 shares of the stock in a transaction 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 now directly owns 397,556 shares in the company, valued at approximately $14,486,940.64. This trade represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sumit Singh sold 148,063 shares of the business's stock in a transaction on 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 directly owns 705,252 shares of the company's stock, valued at $28,682,598.84. The trade was a 17.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 236,046 shares of company stock valued at $9,387,635 in the last three months. 0.43% of the stock is owned by corporate 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.