Jennison Associates LLC Raises Stake in Chewy $CHWY

Jennison Associates LLC grew its stake in shares of Chewy (NYSE:CHWY) by 23.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 789,467 shares of the company’s stock after purchasing an additional 150,273 shares during the quarter. Jennison Associates LLC’s holdings in Chewy were worth $26,092,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quent Capital LLC purchased a new stake in shares of Chewy during the third quarter valued at $27,000. Osterweis Capital Management Inc. purchased a new stake in shares of Chewy during the second quarter valued at $30,000. CoreCap Advisors LLC boosted its stake in shares of Chewy by 306.3% during the fourth quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock valued at $28,000 after purchasing an additional 637 shares during the period. Strategic Advocates LLC purchased a new stake in shares of Chewy during the third quarter valued at $43,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Chewy by 412.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,091 shares of the company’s stock valued at $46,000 after purchasing an additional 878 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Raymond James Financial raised shares of Chewy from a “market perform” rating to an “outperform” rating and set a $28.00 target price for the company in a research note on Thursday, February 19th. Zacks Research raised shares of Chewy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 16th. Citigroup lowered their price objective on shares of Chewy from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, March 27th. UBS Group lowered their price objective on shares of Chewy from $42.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Chewy in a research note on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.91.

Chewy Price Performance

NYSE:CHWY opened at $25.52 on Friday. Chewy has a 1-year low of $22.74 and a 1-year high of $48.62. The company has a 50-day moving average of $25.99 and a 200 day moving average of $30.23. The firm has a market cap of $10.63 billion, a PE ratio of 49.08, a price-to-earnings-growth ratio of 1.10 and a beta of 1.50.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.19). Chewy had a return on equity of 53.48% and a net margin of 1.77%.The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the company earned $0.28 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. Sell-side analysts anticipate that Chewy will post 0.89 EPS for the current fiscal year.

Insider Transactions at Chewy

In related news, General Counsel Da-Wai Hu sold 8,149 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $26.91, for a total value of $219,289.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Satish Mehta sold 13,013 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $28.99, for a total transaction of $377,246.87. Following the completion of the transaction, the chief technology officer owned 273,835 shares of the company’s stock, valued at $7,938,476.65. This represents a 4.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.43% of the stock is owned by corporate insiders.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.