Chewy (NYSE:CHWY) Holdings Cut by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in shares of Chewy (NYSE:CHWY - Free Report) by 36.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CHWY shares. Morgan Stanley reissued an "overweight" rating and issued a $50.00 price objective (up previously from $39.00) on shares of Chewy in a research report on Thursday, June 12th. Citigroup reaffirmed an "outperform" rating on shares of Chewy in a research report on Thursday. The Goldman Sachs Group raised their price objective on Chewy from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Guggenheim restated a "buy" rating and set a $45.00 price objective (up previously from $42.00) on shares of Chewy in a research note on Thursday, June 12th. Finally, Seaport Res Ptn upgraded Chewy to a "hold" rating in a research note on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $43.89.

Insider Transactions at Chewy

In other news, CFO David Reeder sold 11,582 shares of Chewy stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $36.44, for a total value of $422,048.08. Following the completion of the transaction, the chief financial officer owned 397,556 shares in the company, valued at approximately $14,486,940.64. This trade represents a 2.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the business's stock in a transaction that occurred 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. Over the last ninety days, insiders have sold 30,167,614 shares of company stock worth $1,259,102,436. 0.43% of the stock is owned by corporate insiders.

Chewy Price Performance

CHWY traded down $0.22 during trading on Monday, hitting $37.77. The company had a trading volume of 6,182,989 shares, compared to its average volume of 6,163,405. Chewy has a 1-year low of $19.75 and a 1-year high of $48.62. The company has a market cap of $15.68 billion, a PE ratio of 42.44, a P/E/G ratio of 7.93 and a beta of 1.71. The business has a 50-day moving average of $42.36 and a 200-day moving average of $37.88.

Chewy (NYSE:CHWY - Get Free Report) last released its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the firm earned $0.31 EPS. The company's revenue was up 6.3% on a year-over-year basis. Research analysts forecast that Chewy will post 0.24 earnings per share for the current year.

Chewy Company Profile

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.