Norges Bank Purchases New Holdings in Chewy, Inc. (NYSE:CHWY)

Norges Bank bought a new position in Chewy, Inc. (NYSE:CHWY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 89,793 shares of the company's stock, valued at approximately $3,007,000.

Several other institutional investors have also added to or reduced their stakes in CHWY. Wealth Enhancement Advisory Services LLC raised its stake in shares of Chewy by 1.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company's stock valued at $661,000 after acquiring an additional 301 shares during the period. Blue Trust Inc. boosted 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 buying an additional 320 shares during the period. Fifth Third Bancorp increased its position in shares of Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after acquiring an additional 444 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Chewy by 8.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company's stock valued at $189,000 after acquiring an additional 450 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its stake in Chewy by 30.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company's stock worth $94,000 after purchasing an additional 650 shares in the last quarter. Hedge funds and other institutional investors own 93.09% of the company's stock.

Analysts Set New Price Targets

CHWY has been the subject of several recent research reports. Mizuho lifted their price objective on Chewy from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Thursday, March 27th. Citigroup lifted their price target on Chewy from $40.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Argus upgraded Chewy from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. The Goldman Sachs Group increased their price target on shares of Chewy from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a research report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chewy has a consensus rating of "Moderate Buy" and an average target price of $38.58.

Insider Activity

In other news, CTO Satish Mehta sold 83,639 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $3,345,560.00. Following the completion of the sale, the chief technology officer now directly owns 334,218 shares of the company's stock, valued at approximately $13,368,720. The trade was a 20.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sumit Singh sold 13,472 shares of Chewy stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $37.55, for a total value of $505,873.60. Following the transaction, the chief executive officer now directly owns 505,109 shares in the company, valued at approximately $18,966,842.95. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 555,303 shares of company stock valued at $20,902,663. 2.10% of the stock is currently owned by company insiders.

Chewy Price Performance

CHWY stock traded up $0.25 during mid-day trading on Wednesday, reaching $35.26. 662,633 shares of the company's stock were exchanged, compared to its average volume of 7,415,468. The company has a market cap of $14.59 billion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 2.21 and a beta of 1.68. The stock's 50 day moving average is $34.38 and its 200 day moving average is $33.43. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.09.

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

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.