ING Groep NV Makes New $5.88 Million Investment in Chewy $CHWY

Key Points

• ING Groep NV disclosed a new stake in Chewy during the fourth quarter, buying 178,000 shares worth about $5.88 million.
• Chewy stock was down 2.3% and trading near its 12-month low, with shares opening at $20.16 versus a 52-week range of $19.30 to $47.50.
• Recent earnings and analyst updates were mixed: Chewy missed EPS estimates in its latest quarter, while several firms trimmed price targets or downgraded the stock, leaving Wall Street with a Moderate Buy consensus and an average target of $41.24.

ING Groep NV acquired a new stake in shares of Chewy (NYSE:CHWY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 178,000 shares of the company's stock, valued at approximately $5,883,000.

Other hedge funds have also made changes to their positions in the company. Osterweis Capital Management Inc. acquired a new position in shares of Chewy during the 2nd quarter valued at about $30,000. CoreCap Advisors LLC increased its holdings in shares of Chewy by 306.3% during the 4th quarter. CoreCap Advisors LLC now owns 845 shares of the company's stock valued at $28,000 after acquiring an additional 637 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Chewy during the 4th quarter valued at approximately $31,000. Harbour Investments Inc. boosted its stake in Chewy by 81.4% during the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company's stock valued at $30,000 after purchasing an additional 407 shares during the period. Finally, Modus Advisors LLC bought a new stake in Chewy during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 93.09% of the company's stock.

Chewy Trading Down 2.3%

Shares of CHWY stock opened at $20.16 on Tuesday. The stock has a 50 day moving average of $24.03 and a two-hundred day moving average of $27.81. Chewy has a 12 month low of $19.30 and a 12 month high of $47.50. The company has a market capitalization of $8.40 billion, a P/E ratio of 38.76, a P/E/G ratio of 0.92 and a beta of 1.44.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings data on Wednesday, March 25th. The company reported $0.09 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 the consensus estimate of $3.26 billion. During the same quarter in the prior year, the business posted $0.28 EPS. Chewy's revenue was up .5% compared to the same quarter last year. Sell-side analysts predict that Chewy will post 0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

CHWY has been the subject of several recent analyst reports. Zacks Research downgraded Chewy from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 25th. Wall Street Zen downgraded Chewy from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Morgan Stanley decreased their target price on Chewy from $49.00 to $43.00 and set an "overweight" rating for the company in a research note on Tuesday, May 26th. The Goldman Sachs Group decreased their target price on Chewy from $52.00 to $46.00 and set a "buy" rating for the company in a research note on Thursday, March 26th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $47.00 target price on shares of Chewy in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Chewy has a consensus rating of "Moderate Buy" and an average price target of $41.24.

Insider Activity at Chewy

In related news, General Counsel Da-Wai Hu sold 8,149 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $26.91, for a total transaction of $219,289.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sumit Singh sold 83,306 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $25.60, for a total value of $2,132,633.60. Following the transaction, the chief executive officer owned 874,061 shares of the company's stock, valued at $22,375,961.60. This trade represents a 8.70% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 95,675 shares of company stock valued at $2,459,955 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

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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