Pictet Asset Management Holding SA Grows Stock Holdings in Chewy, Inc. (NYSE:CHWY)

Pictet Asset Management Holding SA grew its stake in Chewy, Inc. (NYSE:CHWY) by 1.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 515,999 shares of the company’s stock after acquiring an additional 7,419 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Chewy were worth $17,281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake 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 acquiring an additional 3,493,926 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 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 purchasing an additional 399,330 shares during the period. FMR LLC increased its position in Chewy by 166.8% during 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. Raymond James Financial Inc. acquired a new stake in Chewy during the fourth quarter worth about $69,789,000. Finally, Allianz Asset Management GmbH raised its stake in Chewy by 134.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,620,809 shares of the company’s stock worth $54,281,000 after purchasing an additional 929,116 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Price Performance

NYSE CHWY opened at $33.54 on Wednesday. The company has a market cap of $13.66 billion, a P/E ratio of 36.85, a P/E/G 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 company has a 50-day moving average of $35.74 and a 200-day moving average of $33.25.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.25. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 EPS. As a group, equities research analysts anticipate that Chewy, Inc. will post 0.24 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Satish Mehta sold 71,365 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the sale, the chief technology officer now directly owns 262,853 shares in the company, valued at approximately $9,357,566.80. This represents a 21.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.77, for a total value of $250,390,000.00. The disclosure for this sale can be found here. Insiders sold 8,083,269 shares of company stock worth $290,611,129 over the last three months. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CHWY. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price target on shares of Chewy in a report on Thursday, March 27th. Guggenheim set a $42.00 target price on Chewy and gave the stock a “buy” rating in a research note on Tuesday, February 4th. BNP Paribas lowered Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Mizuho raised their price objective on Chewy from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, March 27th. Finally, Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Chewy presently has an average rating of “Moderate Buy” and an average price target of $38.68.

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.