The Vanguard Group, Inc. recently announced the acquisition of new stake in Chewy Inc (NYSE:CHWY). The institutional investor has increased its shareholding in the Consumer Cyclical company by 4.24% to 8.36 million shares with purchase of 0.34 million shares. This fresh investment now brings its stake to 7.02% valued currently at $145.6 million. In addition, Voya Investment Management Co. LL raised its holdings by 12576.0 to 5.13 million shares. And Neuberger Berman Investment Advis has lifted its position by 219.06% or 2.55 million shares – to 3.71 million shares.
With over 6.42 million Chewy Inc (CHWY) shares trading Monday and a closing price of $20.69 on the day, the dollar volume was approximately $132.8 million. The shares have shown a negative half year performance of -43.93% and its price on 01/08/24 gained nearly 1.27%. Currently, there are 431.41M common shares owned by the public and among those 117.32M shares have been available to trade.
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Insiders at the company have transacted a total of 48 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 12 of these insider trades were purchases, accounting for 478,565 shares. Insider sales of the common stock occurred on 36 occasions, with total insider shares sold totaling 29,708,575 shares.
The top 3 mutual fund holders in Chewy Inc are Allianz Global Investors Fund – I, Morgan Stanley Invt. Fds. – US Ad, and Vanguard US Growth Fund. Allianz Global Investors Fund – I owns 4.74 million shares of the company’s stock, all valued at over $82.55 million. Morgan Stanley Invt. Fds. – US Ad sold -0.41 million shares to see its total holdings shrink to 4.1 million shares valued at over $71.48 million and representing 3.44% of the shares outstanding. Vanguard US Growth Fund sold -0.23 million shares to bring its total holdings to over 3.84 million shares at a value of $66.82 million. Vanguard US Growth Fund now owns shares totaling to 3.22% of the shares outstanding.
Shares of Chewy Inc (NYSE: CHWY) opened at $20.49, up $0.06 from a prior closing price of $20.43. However, the script later moved the day high at 20.84, up 1.27%. The company’s stock has a 5-day price change of -12.44% and 10.35% over the past three months. CHWY shares are trading -12.44% year to date (YTD), with the 12-month market performance down to -42.77% lower. It has a 12-month low price of $16.53 and touched a high of $52.88 over the same period. CHWY has an average intraday trading volume of 9.10 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.88%, 1.08%, and -25.76% respectively.
Institutional ownership of Chewy Inc (NYSE: CHWY) shares accounts for 24.13% of the company’s 431.41M shares outstanding. Mutual fund holders own 42.03%, while other institutional holders and individual stakeholders account for 45.51% and 17.33% respectively.
It has a market capitalization of $8.93B and a beta (3y monthly) value of 0.96. The stock’s trailing 12-month PE ratio is 780.75, while the earnings-per-share (ttm) stands at $0.03. The company has a PEG of 30.44 and a Quick Ratio of 0.60 with the debt-to-equity ratio at 1.41. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.35% over the week and 6.16% over the month.
Analysts forecast that Chewy Inc (CHWY) will achieve an EPS of -$0.05 for the current quarter, $0.06 for the next quarter and $0.14 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of $0.04. Comparatively, EPS for the current quarter was $0.01 a year ago. Earnings per share for the fiscal year are expected to decrease by -101.57%, and 7695.97% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 31 brokerage firm advisors rate Chewy Inc (CHWY) as a “Moderate Buy” at a consensus score of 2.03. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 13 of the 31 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CHWY, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on December 19, 2023, with the firm’s price target at $27.
