Man Group plc Increases Holdings in Chewy, Inc. (NYSE:CHWY)

Man Group plc boosted its holdings in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 210.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 426,324 shares of the company's stock after purchasing an additional 288,787 shares during the period. Man Group plc owned about 0.10% of Chewy worth $14,278,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Blue Trust Inc. boosted its stake in Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock valued at $58,000 after buying an additional 320 shares in the last quarter. Fifth Third Bancorp increased its position in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after purchasing an additional 444 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Chewy by 8.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company's stock valued at $189,000 after purchasing an additional 450 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its position in Chewy by 30.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company's stock valued at $94,000 after buying an additional 650 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Chewy by 52.0% during 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 during the last quarter. Institutional investors own 93.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CHWY. Argus raised Chewy from a "hold" rating to a "buy" rating in a report on Thursday, January 23rd. Guggenheim set a $42.00 target price on Chewy and gave the stock a "buy" rating in a research note on Tuesday, February 4th. The Goldman Sachs Group upped their price objective on shares of Chewy from $40.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, March 27th. JPMorgan Chase & Co. decreased their price target on shares of Chewy from $40.00 to $36.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, JMP Securities dropped their target price on Chewy from $40.00 to $39.00 and set a "market outperform" rating on the stock in a report on Monday, April 14th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.47.

Chewy Price Performance

Shares of NYSE:CHWY traded up $0.78 during trading on Tuesday, hitting $44.09. 6,393,900 shares of the company were exchanged, compared to its average volume of 7,307,582. The company has a market cap of $18.24 billion, a PE ratio of 48.45, a P/E/G ratio of 2.21 and a beta of 1.69. Chewy, Inc. has a 52-week low of $16.06 and a 52-week high of $44.18. The stock has a 50 day moving average of $35.51 and a 200 day moving average of $35.11.

Chewy (NYSE:CHWY - Get Free Report) last posted its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the previous year, the firm earned $0.07 EPS. The company's quarterly revenue was up 15.0% compared to the same quarter last year. Sell-side analysts forecast that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chewy news, CTO Satish Mehta sold 71,365 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the transaction, the chief technology officer now owns 262,853 shares of the company's stock, valued at $9,357,566.80. The trade was a 21.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sumit Singh sold 148,063 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $40.67, for a total transaction of $6,021,722.21. Following the sale, the chief executive officer now owns 705,252 shares in the company, valued at approximately $28,682,598.84. This trade represents a 17.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 307,411 shares of company stock worth $11,928,229 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

About Chewy

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.