Corebridge Financial Inc. Takes $6.21 Million Position in Chewy, Inc. (NYSE:CHWY)

Corebridge Financial Inc. acquired a new stake in Chewy, Inc. (NYSE:CHWY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 185,359 shares of the company’s stock, valued at approximately $6,208,000.

Several other large investors have also bought and sold shares of CHWY. Fifth Third Bancorp lifted its holdings in Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after acquiring an additional 444 shares during the last quarter. Blue Trust Inc. lifted its stake in Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares during the last quarter. Allworth Financial LP boosted its holdings in Chewy by 52.0% during the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after buying an additional 650 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Chewy in the third quarter worth approximately $63,000. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Chewy in the fourth quarter valued at $86,000. Institutional investors own 93.09% of the company’s stock.

Insider Buying and Selling

In other news, CTO Satish Mehta sold 71,365 shares of Chewy stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the sale, the chief technology officer now owns 262,853 shares of the company’s stock, valued at approximately $9,357,566.80. This trade represents a 21.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sumit Singh sold 191,096 shares of Chewy stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.68, for a total transaction of $6,818,305.28. Following the sale, the chief executive officer now owns 707,126 shares in the company, valued at approximately $25,230,255.68. This trade represents a 21.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,083,269 shares of company stock worth $290,611,129 in the last quarter. 2.10% of the stock is currently owned by company insiders.

Chewy Stock Down 1.5 %

CHWY stock opened at $32.20 on Friday. The company has a market capitalization of $13.11 billion, a price-to-earnings ratio of 35.39, a P/E/G ratio of 2.21 and a beta of 1.23. The firm has a 50 day moving average of $35.90 and a two-hundred day moving average of $33.21. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CHWY shares. Citigroup lifted their target price on Chewy from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Guggenheim set a $42.00 target price on shares of Chewy and gave the stock a “buy” rating in a report on Tuesday, February 4th. BNP Paribas lowered shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.68.

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.