Northern Trust Corp Boosts Stock Position in Chewy, Inc. (NYSE:CHWY)

Northern Trust Corp increased its holdings in Chewy, Inc. (NYSE:CHWY - Free Report) by 151.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 921,580 shares of the company's stock after acquiring an additional 555,372 shares during the period. Northern Trust Corp owned about 0.23% of Chewy worth $30,864,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock worth $485,093,000 after buying an additional 3,493,926 shares in the last quarter. Invesco Ltd. lifted its stake in Chewy by 4,577.5% in the fourth quarter. Invesco Ltd. now owns 2,191,146 shares of the company's stock worth $73,381,000 after purchasing an additional 2,144,302 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Chewy during the fourth quarter valued at approximately $69,789,000. Wealthfront Advisers LLC purchased a new position in shares of Chewy in the fourth quarter valued at about $46,003,000. Finally, FMR LLC grew its position in shares of Chewy by 32.4% in the 4th quarter. FMR LLC now owns 5,288,757 shares of the company's stock worth $177,120,000 after buying an additional 1,293,428 shares during the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Stock Up 2.9%

CHWY traded up $1.14 during midday trading on Wednesday, reaching $40.63. The company had a trading volume of 7,470,226 shares, compared to its average volume of 7,364,043. Chewy, Inc. has a 1 year low of $15.78 and a 1 year high of $41.01. The company has a market cap of $16.81 billion, a P/E ratio of 44.65, a P/E/G ratio of 2.21 and a beta of 1.69. The business has a 50-day moving average of $34.56 and a two-hundred day moving average of $34.57.

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. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the prior year, the business posted $0.07 EPS. Chewy's revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities research analysts predict that Chewy, Inc. will post 0.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CHWY shares. Mizuho increased their price target on shares of Chewy from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Thursday, March 27th. Seaport Res Ptn raised Chewy to a "hold" rating in a research report on Monday, March 24th. Argus raised shares of Chewy from a "hold" rating to a "buy" rating in a report on Thursday, January 23rd. Royal Bank of Canada restated an "outperform" rating and issued a $42.00 price objective on shares of Chewy in a report on Thursday, March 27th. Finally, Barclays increased their target price on Chewy from $40.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.47.

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 8,552 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total value of $285,209.20. Following the completion of the sale, the chief executive officer now owns 62,096 shares in the company, valued at approximately $2,070,901.60. The trade was a 12.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of the stock in a transaction that occurred 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 transaction, the chief technology officer now owns 262,853 shares in the company, valued at approximately $9,357,566.80. This represents a 21.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,605 shares of company stock valued at $3,872,220 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.