Corebridge Financial Inc. Purchases New Holdings in Chewy, Inc. (NYSE:CHWY)

Corebridge Financial Inc. acquired a new position in Chewy, Inc. (NYSE:CHWY) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 185,359 shares of the company’s stock, valued at approximately $6,208,000.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CHWY shares. Piper Sandler lifted their price target on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a report on Thursday. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. JMP Securities reissued a “market outperform” rating and issued a $37.00 price objective on shares of Chewy in a research report on Monday, December 16th. Finally, Citigroup upped their price objective on Chewy from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.68.

Chewy Stock Down 1.5 %

Chewy stock opened at $32.20 on Friday. The company has a market capitalization of $13.11 billion, a PE ratio of 35.39, a PEG ratio of 2.21 and a beta of 1.23. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.09. The firm’s fifty day moving average is $35.90 and its 200 day moving average is $33.21.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.25. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. Sell-side analysts expect that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of Chewy stock in a transaction on Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sumit Singh sold 63,187 shares of the firm’s stock in a transaction dated 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 directly owns 643,939 shares in the company, valued at $24,224,985.18. The trade was a 8.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,083,269 shares of company stock worth $290,611,129. Insiders own 2.10% of the company’s stock.

Chewy 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.