Thompson Investment Management Inc. Lowers Stock Holdings in Chewy, Inc. (NYSE:CHWY)

Thompson Investment Management Inc. reduced its stake in shares of Chewy, Inc. (NYSE:CHWY) by 17.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 234,940 shares of the company’s stock after selling 49,545 shares during the quarter. Chewy accounts for approximately 1.1% of Thompson Investment Management Inc.’s portfolio, making the stock its 28th largest holding. Thompson Investment Management Inc. owned about 0.06% of Chewy worth $7,868,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp grew its stake 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 purchasing an additional 444 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares during the last quarter. Planning Capital Management Corp bought a new stake in Chewy during the 3rd quarter valued at approximately $52,000. Wilmington Savings Fund Society FSB bought a new stake in Chewy during the 3rd quarter valued at approximately $63,000. Finally, Union Bancaire Privee UBP SA bought a new stake in Chewy during the 4th quarter valued at approximately $86,000. 93.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CHWY. Mizuho raised Chewy from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $24.00 to $42.00 in a research report on Monday, January 6th. Argus raised Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price objective on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. UBS Group lifted their target price on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Robert W. Baird upped their price target on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.80.

Chewy Stock Down 3.9 %

Chewy stock opened at $37.17 on Friday. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $40.09. The company has a market cap of $15.13 billion, a P/E ratio of 40.84, a P/E/G ratio of 2.32 and a beta of 1.10. The business has a 50-day simple moving average of $35.43 and a two-hundred day simple moving average of $30.92.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the previous year, the firm earned ($0.08) EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts anticipate that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sumit Singh sold 571,903 shares of Chewy stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $34.52, for a total value of $19,742,091.56. Following the completion of the sale, the chief executive officer now directly owns 898,222 shares in the company, valued at approximately $31,006,623.44. The trade was a 38.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,253,869 shares of company stock valued at $922,347,574 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

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.