Freestone Grove Partners LP Makes New $19.31 Million Investment in Chewy, Inc. (NYSE:CHWY)

Freestone Grove Partners LP acquired a new position in Chewy, Inc. (NYSE:CHWY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 576,642 shares of the company's stock, valued at approximately $19,312,000. Freestone Grove Partners LP owned 0.14% of Chewy at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CHWY. Fifth Third Bancorp raised its holdings in shares of Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after buying an additional 444 shares during the period. Blue Trust Inc. grew its position in Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock valued at $58,000 after acquiring an additional 320 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Chewy in the third quarter worth $63,000. Allworth Financial LP lifted its position 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 purchasing an additional 650 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Chewy during the fourth quarter valued at $86,000. Institutional investors own 93.09% of the company's stock.

Analysts Set New Price Targets

CHWY has been the subject of a number of research analyst reports. Wedbush reiterated an "outperform" rating and set a $39.00 price objective on shares of Chewy in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft set a $27.00 price target on Chewy and gave the company a "hold" rating in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on Chewy from $40.00 to $36.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group upped their target price on Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Guggenheim set a $42.00 price objective on Chewy and gave the company a "buy" rating in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, Chewy presently has an average rating of "Moderate Buy" and a consensus target price of $38.47.

Chewy Trading Up 3.2 %

Shares of CHWY stock traded up $1.18 during trading hours on Monday, reaching $37.84. 6,339,799 shares of the company's stock were exchanged, compared to its average volume of 7,375,815. Chewy, Inc. has a 1 year low of $15.08 and a 1 year high of $40.09. The stock has a market cap of $15.65 billion, a PE ratio of 41.58, a PEG ratio of 2.21 and a beta of 1.69. The stock's fifty day moving average price is $34.16 and its two-hundred day moving average price is $34.08.

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

Insider Buying and Selling

In related news, CTO Satish Mehta sold 71,365 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total transaction 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. This trade represents a 21.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sumit Singh sold 8,552 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total transaction of $285,209.20. Following the completion of the sale, the chief executive officer now directly owns 62,096 shares in the company, valued at approximately $2,070,901.60. The trade was a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 444,907 shares of company stock worth $16,529,750 in the last 90 days. Insiders own 2.10% of the company's stock.

Chewy 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.