Dakota Wealth Management Purchases Shares of 12,365 Chewy (NYSE:CHWY)

Dakota Wealth Management acquired a new stake in Chewy (NYSE:CHWY - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,365 shares of the company's stock, valued at approximately $402,000.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CHWY. Wedbush reaffirmed an "outperform" rating and set a $39.00 target price on shares of Chewy in a research note on Thursday, March 27th. Mizuho lowered shares of Chewy from an "outperform" rating to a "neutral" rating and boosted their price objective for the company from $43.00 to $47.00 in a report on Monday, June 9th. JMP Securities boosted their price target on shares of Chewy from $39.00 to $48.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 10th. The Goldman Sachs Group boosted their price objective on Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of Chewy from $36.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, June 12th. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.89.

Chewy Stock Performance

Chewy stock opened at $38.04 on Friday. Chewy has a one year low of $19.75 and a one year high of $48.62. The business has a fifty day moving average of $42.35 and a two-hundred day moving average of $37.91. The company has a market cap of $15.79 billion, a P/E ratio of 42.74, a price-to-earnings-growth ratio of 7.93 and a beta of 1.71.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. Chewy had a return on equity of 35.04% and a net margin of 3.21%. Chewy'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 EPS. Sell-side analysts predict that Chewy will post 0.24 EPS for the current year.

Insider Buying and Selling

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

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.

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