Principal Financial Group Inc. Has $19.97 Million Position in Chewy (NYSE:CHWY)

Principal Financial Group Inc. cut its holdings in shares of Chewy (NYSE:CHWY - Free Report) by 36.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 614,280 shares of the company's stock after selling 356,684 shares during the quarter. Principal Financial Group Inc. owned about 0.15% of Chewy worth $19,970,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC increased its holdings in shares of Chewy by 150.2% during the 1st quarter. Parallel Advisors LLC now owns 788 shares of the company's stock worth $26,000 after acquiring an additional 473 shares during the last quarter. Banque Transatlantique SA acquired a new position in Chewy in the 4th quarter valued at about $30,000. Golden State Wealth Management LLC grew its stake in Chewy by 104.6% in the 1st quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after buying an additional 481 shares during the last quarter. North Star Investment Management Corp. grew its stake in Chewy by 26.6% in the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock valued at $55,000 after buying an additional 353 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Chewy by 225.7% in the 1st quarter. UMB Bank n.a. now owns 1,866 shares of the company's stock valued at $61,000 after buying an additional 1,293 shares during the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Stock Down 2.1%

Shares of CHWY stock traded down $0.80 during trading hours on Friday, reaching $37.97. The company's stock had a trading volume of 5,233,880 shares, compared to its average volume of 6,190,160. The firm's 50 day simple moving average is $42.34 and its 200-day simple moving average is $37.79. The company has a market capitalization of $15.77 billion, a price-to-earnings ratio of 42.66, a PEG ratio of 8.13 and a beta of 1.71. Chewy has a fifty-two week low of $19.75 and a fifty-two week high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the company posted $0.31 EPS. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. Sell-side analysts predict that Chewy will post 0.24 earnings per share for the current year.

Insider Activity at Chewy

In related news, CFO David Reeder sold 11,582 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $36.44, for a total transaction of $422,048.08. Following the sale, the chief financial officer owned 397,556 shares of the company's stock, valued at $14,486,940.64. This trade represents a 2.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the firm's stock in a transaction on 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. In the last quarter, insiders have sold 30,167,614 shares of company stock valued at $1,259,102,436. 0.43% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $44.00 price objective (up from $42.00) on shares of Chewy in a report on Thursday, June 12th. Wall Street Zen lowered Chewy from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Evercore ISI set a $52.00 price objective on Chewy and gave the company an "outperform" rating in a report on Thursday, June 12th. JMP Securities upped their price objective on Chewy from $39.00 to $48.00 and gave the company a "market outperform" rating in a report on Thursday. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $50.00 price objective (up from $39.00) on shares of Chewy in a report on Thursday, June 12th. Nine equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.89.

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.