PNC Financial Services Group Inc. grew its holdings in shares of Chewy, Inc. (NYSE:CHWY – Get Rating) by 20.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,749 shares of the company’s stock after buying an additional 2,308 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Chewy were worth $510,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Belpointe Asset Management LLC purchased a new stake in shares of Chewy in the fourth quarter valued at approximately $33,000. CWM LLC boosted its holdings in shares of Chewy by 39.3% in the fourth quarter. CWM LLC now owns 1,014 shares of the company’s stock valued at $38,000 after purchasing an additional 286 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Chewy in the fourth quarter valued at approximately $52,000. Parallel Advisors LLC boosted its holdings in shares of Chewy by 443.1% in the fourth quarter. Parallel Advisors LLC now owns 1,412 shares of the company’s stock valued at $52,000 after purchasing an additional 1,152 shares during the period. Finally, Exos TFP Holdings LLC purchased a new stake in shares of Chewy in the third quarter valued at approximately $78,000. Institutional investors own 99.05% of the company’s stock.
Wall Street Analyst Weigh In
CHWY has been the subject of a number of research reports. Raymond James upgraded Chewy from a “market perform” rating to an “outperform” rating and set a $36.00 price target for the company in a report on Wednesday, May 3rd. Roth Mkm began coverage on Chewy in a report on Friday, March 10th. They set a “buy” rating and a $52.00 target price for the company. Barclays upped their target price on Chewy from $33.00 to $35.00 in a report on Thursday. JMP Securities began coverage on Chewy in a report on Tuesday, April 11th. They set an “outperform” rating and a $50.00 target price for the company. Finally, UBS Group upped their target price on Chewy from $24.00 to $26.00 in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.65.
Chewy Price Performance
Chewy (NYSE:CHWY – Get Rating) last released its earnings results on Wednesday, March 22nd. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.28. Chewy had a return on equity of 39.90% and a net margin of 0.51%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.64 billion. Research analysts expect that Chewy, Inc. will post -0.1 earnings per share for the current year.
About Chewy
Chewy, Inc operates as a pure-play pet e-tailer in the United States. It supplies pet medications, food, treats and other pet-health products and services for dogs, cats, fish, birds, small pets, horses, and reptiles. The company was founded by Ryan Cohen and Michael Day in September 2011 and is headquartered in Dania Beach, FL.
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