Headlands Technologies LLC Invests $239,000 in Chewy, Inc. (NYSE:CHWY)

Headlands Technologies LLC bought a new stake in Chewy, Inc. (NYSE:CHWY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,127 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp lifted its stake in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after acquiring an additional 444 shares in the last quarter. Blue Trust Inc. boosted its holdings in Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after purchasing an additional 320 shares during the last quarter. Allworth Financial LP grew its position in Chewy by 52.0% in the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after purchasing an additional 650 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Chewy in the 3rd quarter valued at about $63,000. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Chewy during the 4th quarter worth approximately $86,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $37.00 price target on shares of Chewy in a research report on Monday, December 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research report on Thursday, March 27th. Morgan Stanley boosted their price target on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Seaport Res Ptn upgraded shares of Chewy to a “hold” rating in a report on Monday, March 24th. Finally, Wedbush reissued an “outperform” rating and set a $39.00 target price on shares of Chewy in a research report 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.68.

Insider Activity

In related news, CEO Sumit Singh sold 63,187 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $37.62, for a total transaction of $2,377,094.94. Following the transaction, the chief executive officer now owns 643,939 shares of the company’s stock, valued at approximately $24,224,985.18. This trade represents a 8.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,900,725 shares of company stock worth $284,078,033. 2.10% of the stock is currently owned by insiders.

Chewy Trading Down 6.5 %

Shares of CHWY opened at $31.48 on Friday. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.09. The company has a market cap of $12.82 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.21 and a beta of 1.68. The stock has a 50-day moving average price of $35.43 and a 200-day moving average price of $33.25.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.25. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the prior year, the firm earned $0.07 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current year.

About Chewy

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.