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

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Chewy by 31.8% in the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock worth $485,093,000 after buying an additional 3,493,926 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Chewy by 9.8% in the fourth quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company’s stock valued at $150,345,000 after acquiring an additional 399,330 shares in the last quarter. Clearbridge Investments LLC increased its position in Chewy by 47.4% during the 4th quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company’s stock valued at $129,495,000 after purchasing an additional 1,243,981 shares during the period. Raymond James Financial Inc. bought a new position in Chewy in the 4th quarter worth $69,789,000. Finally, Geode Capital Management LLC lifted its position in shares of Chewy by 23.9% in the 4th quarter. Geode Capital Management LLC now owns 1,921,737 shares of the company’s stock worth $64,389,000 after purchasing an additional 370,893 shares during the period. Institutional investors own 93.09% of the company’s stock.

Chewy Trading Down 6.5 %

Shares of CHWY opened at $31.48 on Friday. The firm has a fifty day simple moving average of $35.43 and a two-hundred day simple moving average of $33.25. The firm has a market cap of $12.82 billion, a PE ratio of 34.59, a P/E/G ratio of 2.21 and a beta of 1.68. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Chewy’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share. As a group, research analysts forecast that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on CHWY. Guggenheim set a $42.00 price target on shares of Chewy and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Wedbush restated an “outperform” rating and issued a $39.00 target price on shares of Chewy in a research note on Thursday, March 27th. JMP Securities reiterated a “market outperform” rating and issued a $37.00 price objective on shares of Chewy in a report on Monday, December 16th. Morgan Stanley raised their price objective on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Seaport Res Ptn raised shares of Chewy to a “hold” rating in a research note on Monday, March 24th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chewy presently has an average rating of “Moderate Buy” and an average price target of $38.68.

Insider Buying and Selling

In related news, CEO Sumit Singh sold 63,187 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $37.62, for a total transaction of $2,377,094.94. Following the completion of the transaction, the chief executive officer now directly owns 643,939 shares in the company, valued at approximately $24,224,985.18. The trade was a 8.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was 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. Over the last quarter, insiders have sold 7,900,725 shares of company stock valued at $284,078,033. 2.10% of the stock is owned by insiders.

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.