Swiss National Bank Boosts Holdings in Chewy (NYSE:CHWY)

Key Points

• The Swiss National Bank increased its holdings in Chewy by 2.4% during Q1, owning 363,300 shares valued at approximately $11.81 million.
• Analysts are optimistic about Chewy's stock, with target price increases from firms like JPMorgan and Barclays, indicating a general average target price of $43.78.
• Chewy's CEO sold over 29,500 shares on August 4, resulting in a 5.19% decrease in their personal ownership stake in the company.

Swiss National Bank raised its position in Chewy (NYSE:CHWY - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 363,300 shares of the company's stock after purchasing an additional 8,400 shares during the period. Swiss National Bank owned 0.09% of Chewy worth $11,811,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. CenterBook Partners LP boosted its holdings in Chewy by 519.5% in the 1st quarter. CenterBook Partners LP now owns 66,984 shares of the company's stock valued at $2,178,000 after purchasing an additional 56,172 shares during the period. Deutsche Bank AG increased its holdings in shares of Chewy by 0.4% in the 1st quarter. Deutsche Bank AG now owns 362,253 shares of the company's stock worth $11,777,000 after buying an additional 1,546 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Chewy by 6.5% in the 1st quarter. Blair William & Co. IL now owns 849,834 shares of the company's stock worth $27,628,000 after buying an additional 52,141 shares during the last quarter. R Squared Ltd bought a new position in shares of Chewy in the 1st quarter worth $341,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Chewy by 49.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,442 shares of the company's stock worth $274,000 after buying an additional 2,792 shares during the last quarter. 93.09% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO William G. Billings sold 20,142 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $35.57, for a total value of $716,450.94. Following the completion of the sale, the chief accounting officer directly owned 29,464 shares of the company's stock, valued at approximately $1,048,034.48. This trade represents a 40.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $41.75, for a total transaction of $1,250,000,010.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,008,777 shares of company stock worth $1,252,444,321. 0.43% of the stock is currently owned by corporate insiders.

Chewy Price Performance

CHWY traded up $1.55 during trading on Friday, hitting $40.49. 8,694,184 shares of the stock traded hands, compared to its average volume of 6,145,767. The firm has a market capitalization of $16.81 billion, a P/E ratio of 45.49, a price-to-earnings-growth ratio of 8.45 and a beta of 1.67. The firm has a 50-day moving average of $39.42 and a 200 day moving average of $37.95. Chewy has a 12-month low of $25.19 and a 12-month high of $48.62.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CHWY. JPMorgan Chase & Co. increased their price target on shares of Chewy from $36.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, June 12th. JMP Securities increased their price target on shares of Chewy from $39.00 to $48.00 and gave the stock a "market outperform" rating in a report on Thursday, July 10th. Royal Bank Of Canada reissued an "outperform" rating and issued a $44.00 price target (up previously from $42.00) on shares of Chewy in a report on Thursday, June 12th. Wall Street Zen lowered shares of Chewy from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, Barclays increased their price target on shares of Chewy from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. Nine research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.78.

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.