Jennison Associates LLC Buys 150,273 Shares of Chewy $CHWY

Key Points

• Jennison Associates increased its Chewy stake by 23.5%, adding 150,273 shares to own 789,467 shares (about 0.19%) valued at $26.09M; institutional investors hold 93.09% of the stock and Vanguard now owns 19,920,347 shares after adding 1,017,214.
• Chewy missed quarterly EPS expectations ($0.09 reported vs. $0.28 expected) while revenue was roughly flat (+0.5% y/y); the stock trades near $25.52 with a market cap of $10.63B and a 12‑month range of $22.74–$48.62.
• Analysts rate Chewy a consensus "Moderate Buy" with an average price target of $42.91, supported by a mix of buy/outperform and hold ratings and recent target adjustments from firms like RBC and Guggenheim.

Jennison Associates LLC grew its stake in shares of Chewy (NYSE:CHWY - Free Report) by 23.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 789,467 shares of the company's stock after buying an additional 150,273 shares during the period. Jennison Associates LLC owned 0.19% of Chewy worth $26,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State of New Jersey Common Pension Fund D raised its position in shares of Chewy by 6.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 82,939 shares of the company's stock valued at $2,741,000 after buying an additional 4,767 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Chewy by 56.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 52,403 shares of the company's stock worth $1,732,000 after purchasing an additional 18,973 shares during the last quarter. M&T Bank Corp increased its position in Chewy by 53.5% in the fourth quarter. M&T Bank Corp now owns 14,526 shares of the company's stock worth $480,000 after purchasing an additional 5,060 shares during the last quarter. Prentiss Smith & Co. Inc. increased its position in Chewy by 3.3% in the fourth quarter. Prentiss Smith & Co. Inc. now owns 27,960 shares of the company's stock worth $924,000 after purchasing an additional 905 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Chewy by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 19,920,347 shares of the company's stock worth $658,367,000 after purchasing an additional 1,017,214 shares during the last quarter. Institutional investors own 93.09% of the company's stock.

Analyst Ratings Changes

CHWY has been the topic of several research reports. Guggenheim restated a "buy" rating and issued a $45.00 price target on shares of Chewy in a research report on Monday, April 27th. BNP Paribas Exane restated a "neutral" rating and issued a $28.00 price target (down from $38.00) on shares of Chewy in a research report on Thursday, March 26th. Wolfe Research set a $44.00 price target on shares of Chewy in a research report on Monday, January 5th. Piper Sandler restated an "overweight" rating on shares of Chewy in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada boosted their price target on shares of Chewy from $43.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, March 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $42.91.

Insiders Place Their Bets

In other Chewy news, CTO Satish Mehta sold 13,013 shares of the business's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $28.99, for a total transaction of $377,246.87. Following the transaction, the chief technology officer owned 273,835 shares in the company, valued at $7,938,476.65. The trade was a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $219,289.59. The disclosure for this sale is available in the SEC filing. Insiders own 0.43% of the company's stock.

Chewy Stock Up 0.4%

CHWY stock opened at $25.52 on Friday. Chewy has a twelve month low of $22.74 and a twelve month high of $48.62. The stock has a market capitalization of $10.63 billion, a price-to-earnings ratio of 49.08, a price-to-earnings-growth ratio of 1.10 and a beta of 1.50. The firm's fifty day simple moving average is $25.99 and its two-hundred day simple moving average is $30.23.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings data on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.19). Chewy had a net margin of 1.77% and a return on equity of 53.48%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the firm earned $0.28 EPS. The company's revenue was up .5% on a year-over-year basis. As a group, equities research analysts expect that Chewy will post 0.89 EPS for the current year.

Chewy 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.

Want to see what other hedge funds are holding CHWY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chewy (NYSE:CHWY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.