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

Thompson Investment Management Inc. trimmed its position in Chewy, Inc. (NYSE:CHWY) by 17.4% in the 4th quarter, HoldingsChannel reports. The firm owned 234,940 shares of the company’s stock after selling 49,545 shares during the quarter. Chewy makes up about 1.1% of Thompson Investment Management Inc.’s portfolio, making the stock its 28th largest position. Thompson Investment Management Inc.’s holdings in Chewy were worth $7,868,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CHWY. FMR LLC raised its stake in shares of Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after purchasing an additional 2,497,689 shares during the last quarter. Eagle Asset Management Inc. raised its position in Chewy by 97.9% during the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after acquiring an additional 975,647 shares in the last quarter. AMI Asset Management Corp purchased a new position in Chewy during the third quarter valued at approximately $17,756,000. Quadrature Capital Ltd purchased a new position in Chewy during the third quarter valued at approximately $13,699,000. Finally, Retirement Systems of Alabama purchased a new position in Chewy during the fourth quarter valued at approximately $14,812,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CHWY. Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $28.00 to $40.00 in a research report on Friday, November 8th. UBS Group boosted their price objective on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Wolfe Research upgraded Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. JMP Securities restated a “market outperform” rating and issued a $37.00 price objective on shares of Chewy in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. lifted their price target on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Insider Buying and Selling at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $31.32, for a total transaction of $620,989,219.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sumit Singh sold 57,432 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $37.90, for a total transaction of $2,176,672.80. Following the transaction, the chief executive officer now owns 877,704 shares in the company, valued at approximately $33,264,981.60. This represents a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,253,869 shares of company stock valued at $922,347,574. Corporate insiders own 2.10% of the company’s stock.

Chewy Trading Down 3.9 %

Shares of NYSE CHWY opened at $37.17 on Friday. The stock has a 50 day simple moving average of $35.43 and a 200-day simple moving average of $30.92. The company has a market cap of $15.13 billion, a PE ratio of 40.84, a P/E/G ratio of 2.32 and a beta of 1.10. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.09.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the company earned ($0.08) earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current fiscal 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.