13,900 Shares in Chewy, Inc. (NYSE:CHWY) Purchased by Olympiad Research LP

Olympiad Research LP bought a new position in shares of Chewy, Inc. (NYSE:CHWY) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 13,900 shares of the company’s stock, valued at approximately $466,000.

Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares in the last quarter. Blue Trust Inc. increased its position in shares of Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares in the last quarter. Planning Capital Management Corp acquired a new stake in shares of Chewy during the 3rd quarter worth about $52,000. Wilmington Savings Fund Society FSB acquired a new stake in Chewy in the 3rd quarter valued at about $63,000. Finally, Allworth Financial LP increased its position in Chewy by 52.0% in the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after acquiring an additional 650 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Analysts Set New Price Targets

CHWY has been the subject of several research reports. Bank of America upgraded shares of Chewy from an “underperform” rating to a “buy” rating and raised their price objective for the company from $24.00 to $40.00 in a research report on Wednesday, November 20th. 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. Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $24.00 to $42.00 in a research report on Monday, January 6th. Evercore ISI upgraded shares of Chewy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $34.00 to $47.00 in a research report on Monday, January 13th. Finally, Piper Sandler raised their price objective on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.30.

Insider Buying and Selling at Chewy

In other news, CTO Satish Mehta sold 8,056 shares of Chewy stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the sale, the chief technology officer now directly owns 585,962 shares in the company, valued at $19,612,148.14. This trade represents a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,561,427 shares of company stock valued at $933,874,848. 2.10% of the stock is currently owned by corporate insiders.

Chewy Stock Performance

Shares of CHWY opened at $35.03 on Friday. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $40.09. The firm’s 50 day moving average price is $36.45 and its two-hundred day moving average price is $31.90. The firm has a market cap of $14.26 billion, a P/E ratio of 38.49, a PEG ratio of 2.21 and a beta of 1.10.

Chewy (NYSE:CHWY) last announced its quarterly earnings results 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 net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that Chewy, Inc. will post 0.24 earnings per share 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.