Geode Capital Management LLC Grows Stock Position in Chewy $CHWY

Key Points

• Geode Capital Management increased its Chewy stake by 3.4% in the fourth quarter, buying an additional 145,539 shares and bringing its total holding to 4.43 million shares worth about $146.5 million.
• Chewy reported Q1 earnings of $0.09 per share, missing analyst expectations of $0.28, while revenue came in at $3.26 billion, roughly in line with estimates and up 0.5% year over year.
• Analysts remain generally positive despite recent target cuts, with Chewy carrying a Moderate Buy consensus and an average price target of $41.38, though several firms lowered their price objectives recently.

Geode Capital Management LLC lifted its position in Chewy (NYSE:CHWY - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,432,257 shares of the company's stock after purchasing an additional 145,539 shares during the quarter. Geode Capital Management LLC owned about 1.07% of Chewy worth $146,515,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Winslow Asset Management Inc. acquired a new stake in Chewy during the third quarter worth about $6,171,000. Vanguard Group Inc. grew its holdings in Chewy by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 19,920,347 shares of the company's stock worth $658,367,000 after acquiring an additional 1,017,214 shares during the period. WINTON GROUP Ltd grew its holdings in Chewy by 110.6% during the third quarter. WINTON GROUP Ltd now owns 239,800 shares of the company's stock worth $9,700,000 after acquiring an additional 125,943 shares during the period. Intech Investment Management LLC grew its holdings in Chewy by 218.6% during the third quarter. Intech Investment Management LLC now owns 173,300 shares of the company's stock worth $7,010,000 after acquiring an additional 118,903 shares during the period. Finally, Champlain Investment Partners LLC acquired a new stake in Chewy during the third quarter worth about $89,022,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Trading Down 1.0%

Shares of CHWY opened at $20.83 on Friday. Chewy has a 12 month low of $19.30 and a 12 month high of $48.62. The stock's 50 day moving average is $24.29 and its two-hundred day moving average is $28.01. The firm has a market cap of $8.68 billion, a P/E ratio of 40.06, a PEG ratio of 0.92 and a beta of 1.44.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings results on Wednesday, March 25th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.19). Chewy had a return on equity of 53.48% and a net margin of 1.77%.The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. The business's revenue was up .5% on a year-over-year basis. Equities research analysts forecast that Chewy will post 0.88 EPS for the current year.

Analysts Set New Price Targets

CHWY has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on Chewy from $40.00 to $35.00 and set an "overweight" rating on the stock in a report on Tuesday. Wedbush dropped their target price on Chewy from $42.00 to $36.00 and set an "outperform" rating on the stock in a report on Thursday, March 26th. Mizuho dropped their price objective on Chewy from $50.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday. Wall Street Zen lowered Chewy from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, BNP Paribas Exane reissued a "neutral" rating and issued a $28.00 price objective (down from $38.00) on shares of Chewy in a report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $41.38.

Insider Buying and Selling at Chewy

In related news, CEO Sumit Singh sold 4,220 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $25.60, for a total value of $108,032.00. Following the sale, the chief executive officer owned 123,955 shares in the company, valued at approximately $3,173,248. The trade was a 3.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Da-Wai Hu sold 8,149 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $26.91, for a total value of $219,289.59. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 95,675 shares of company stock worth $2,459,955 in the last quarter. Company insiders own 0.34% of the company's stock.

Chewy Company Profile

Chewy, Inc NYSE: CHWY is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.

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