Citigroup Inc. Sells 91,988 Shares of Chewy, Inc. (NYSE:CHWY)

Citigroup Inc. reduced its holdings in shares of Chewy, Inc. (NYSE:CHWY – Get Rating) by 44.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,581 shares of the company’s stock after selling 91,988 shares during the quarter. Citigroup Inc.’s holdings in Chewy were worth $4,286,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Belpointe Asset Management LLC bought a new stake in Chewy during the fourth quarter worth $33,000. CWM LLC raised its stake 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 buying an additional 286 shares during the period. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Chewy in the fourth quarter valued at $52,000. Parallel Advisors LLC raised its stake 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 buying an additional 1,152 shares during the period. Finally, Exos TFP Holdings LLC bought a new stake in shares of Chewy in the third quarter valued at $78,000. 99.05% of the stock is currently owned by institutional investors.

Insider Transactions at Chewy

In other news, CTO Satish Mehta sold 4,635 shares of the company’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $39.74, for a total value of $184,194.90. Following the completion of the transaction, the chief technology officer now directly owns 412,485 shares in the company, valued at approximately $16,392,153.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sumit Singh sold 21,317 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $39.74, for a total value of $847,137.58. Following the completion of the sale, the chief executive officer now owns 759,876 shares of the company’s stock, valued at approximately $30,197,472.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Satish Mehta sold 4,635 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $39.74, for a total value of $184,194.90. Following the completion of the sale, the chief technology officer now directly owns 412,485 shares of the company’s stock, valued at approximately $16,392,153.90. The disclosure for this sale can be found here. In the last three months, insiders sold 29,765 shares of company stock worth $1,182,861. 1.80% of the stock is currently owned by corporate insiders.

Chewy Stock Down 6.3 %

Chewy stock opened at $31.64 on Friday. Chewy, Inc. has a 52 week low of $22.22 and a 52 week high of $52.88. The business has a 50-day simple moving average of $34.65 and a 200 day simple moving average of $39.14. The stock has a market cap of $13.51 billion, a price-to-earnings ratio of 287.64, a PEG ratio of 112.60 and a beta of 0.76.

Chewy (NYSE:CHWY – Get Rating) last posted its quarterly earnings data on Wednesday, March 22nd. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.28. Chewy had a return on equity of 45.19% and a net margin of 0.49%. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.64 billion. On average, research analysts anticipate that Chewy, Inc. will post 0.02 earnings per share for the current year.

Wall Street Analyst Weigh In

CHWY has been the topic of several research reports. Wedbush restated an “outperform” rating and issued a $45.00 target price on shares of Chewy in a research note on Monday, April 17th. Gordon Haskett initiated coverage on Chewy in a research note on Wednesday, February 15th. They issued a “hold” rating and a $46.00 target price on the stock. Citigroup reduced their price target on Chewy from $43.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, March 27th. 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 research report on Wednesday, May 3rd. Finally, Evercore ISI reduced their price target on Chewy from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, March 23rd. Eleven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.77.

Chewy Profile

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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.