The Manufacturers Life Insurance Company Acquires 87,843 Shares of Chewy, Inc. (NYSE:CHWY)

The Manufacturers Life Insurance Company grew its stake in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 336.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 113,955 shares of the company's stock after purchasing an additional 87,843 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Chewy were worth $3,816,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oxford Asset Management LLP increased its holdings in Chewy by 86.0% in the fourth quarter. Oxford Asset Management LLP now owns 15,237 shares of the company's stock valued at $510,000 after buying an additional 7,045 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Chewy in the fourth quarter valued at about $14,650,000. Symmetry Investments LP bought a new stake in Chewy in the fourth quarter valued at about $419,000. T. Rowe Price Investment Management Inc. increased its holdings in Chewy by 0.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 557,543 shares of the company's stock valued at $18,673,000 after buying an additional 2,939 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Chewy by 8.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,768 shares of the company's stock valued at $1,399,000 after acquiring an additional 3,100 shares during the period. Institutional investors and hedge funds own 93.09% of the company's stock.

Insider Buying and Selling

In related news, CTO Satish Mehta sold 9,243 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $36.50, for a total value of $337,369.50. Following the completion of the transaction, the chief technology officer now owns 276,467 shares in the company, valued at $10,091,045.50. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David Reeder sold 7,863 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $36.50, for a total transaction of $286,999.50. Following the completion of the transaction, the chief financial officer now owns 11,582 shares of the company's stock, valued at $422,743. This trade represents a 40.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,605 shares of company stock valued at $3,872,220 over the last three months. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CHWY has been the subject of a number of research reports. Barclays lifted 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. JPMorgan Chase & Co. decreased their price objective on Chewy from $40.00 to $36.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada reissued an "outperform" rating and issued a $42.00 price objective on shares of Chewy in a report on Thursday, March 27th. JMP Securities decreased their price objective on Chewy from $40.00 to $39.00 and set a "market outperform" rating for the company in a report on Monday, April 14th. Finally, Citigroup increased their price objective on Chewy from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Chewy has a consensus rating of "Moderate Buy" and a consensus target price of $38.47.

Chewy Trading Up 2.8%

Chewy stock traded up $1.12 during mid-day trading on Wednesday, hitting $40.61. 2,574,994 shares of the company's stock were exchanged, compared to its average volume of 7,345,024. The stock has a market cap of $16.80 billion, a P/E ratio of 44.63, a P/E/G ratio of 2.21 and a beta of 1.69. Chewy, Inc. has a 1-year low of $15.78 and a 1-year high of $40.90. The stock 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, beating 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 return on equity of 24.47% and a net margin of 3.51%. The firm's revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business posted $0.07 earnings per share. As a group, research analysts predict that Chewy, Inc. will post 0.24 EPS 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.