T. Rowe Price Investment Management Inc. Has $26.37 Million Stock Position in Chewy $CHWY

Key Points

• T. Rowe Price Investment Management Inc. increased its holdings in Chewy by 45.5% during the first quarter, acquiring 253,540 shares to reach a total of 811,083 shares worth approximately $26.37 million.
• Chewy reported a quarterly earnings per share of $0.35, exceeding analyst estimates, and its revenue rose to $3.12 billion, reflecting a 6.3% increase year-over-year.
• Institutional investors own the majority of Chewy's stock, with T. Rowe Price and others like Jefferies Financial Group and Victory Capital Management significantly increasing their positions.

T. Rowe Price Investment Management Inc. boosted its stake in Chewy (NYSE:CHWY - Free Report) by 45.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 811,083 shares of the company's stock after acquiring an additional 253,540 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.20% of Chewy worth $26,369,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aigen Investment Management LP acquired a new position in Chewy in the 1st quarter worth $791,000. Jefferies Financial Group Inc. acquired a new position in Chewy in the 1st quarter worth $3,251,000. D.A. Davidson & CO. boosted its stake in Chewy by 38.7% in the 1st quarter. D.A. Davidson & CO. now owns 43,725 shares of the company's stock worth $1,422,000 after purchasing an additional 12,206 shares during the period. Polar Asset Management Partners Inc. boosted its stake in Chewy by 26.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company's stock worth $9,670,000 after purchasing an additional 60,533 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Chewy by 74.5% in the 1st quarter. Victory Capital Management Inc. now owns 139,889 shares of the company's stock worth $4,548,000 after purchasing an additional 59,711 shares during the period. 93.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO William G. Billings sold 20,142 shares of the company'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 sale, the chief accounting officer directly owned 29,464 shares of the company's stock, valued at approximately $1,048,034.48. This represents a 40.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sumit Singh sold 4,264 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $35.57, for a total transaction of $151,670.48. Following the completion of the sale, the chief executive officer directly owned 72,549 shares in the company, valued at approximately $2,580,567.93. The trade was a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,008,777 shares of company stock valued at $1,252,444,321 in the last 90 days. 0.43% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Cowen reaffirmed a "buy" rating on shares of Chewy in a research note on Friday, June 6th. Mizuho cut shares of Chewy from an "outperform" rating to a "neutral" rating and boosted their price target for the stock from $43.00 to $47.00 in a research report on Monday, June 9th. JPMorgan Chase & Co. boosted their price target on shares of Chewy from $36.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, June 12th. Morgan Stanley reissued an "overweight" rating and set a $50.00 price target (up from $39.00) on shares of Chewy in a research report on Thursday, June 12th. Finally, UBS Group reissued a "neutral" rating and set a $44.00 price target on shares of Chewy in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $43.78.

Chewy Stock Up 2.6%

Shares of CHWY stock traded up $1.01 on Tuesday, reaching $40.75. The stock had a trading volume of 5,357,530 shares, compared to its average volume of 6,396,934. The firm's 50-day moving average is $39.10 and its two-hundred day moving average is $38.04. The firm has a market capitalization of $16.92 billion, a price-to-earnings ratio of 45.79, a P/E/G ratio of 8.30 and a beta of 1.67. Chewy has a 12 month low of $25.19 and a 12 month high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last issued its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The company had revenue of $3.12 billion for 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%. Chewy's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. Chewy has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Chewy will post 0.24 earnings per share for the current fiscal 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.