Kestra Private Wealth Services LLC Reduces Stock Position in Chewy, Inc. (NYSE:CHWY)

Kestra Private Wealth Services LLC cut its stake in Chewy, Inc. (NYSE:CHWY) by 23.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,085 shares of the company’s stock after selling 3,388 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Chewy were worth $262,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Baillie Gifford & Co. grew its position in Chewy by 16.8% in the fourth quarter. Baillie Gifford & Co. now owns 18,482,764 shares of the company’s stock worth $436,748,000 after acquiring an additional 2,654,376 shares during the period. Vanguard Group Inc. grew its position in Chewy by 4.2% in the third quarter. Vanguard Group Inc. now owns 8,464,429 shares of the company’s stock worth $154,560,000 after acquiring an additional 344,273 shares during the period. Bank of New York Mellon Corp grew its position in Chewy by 101.4% in the third quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company’s stock worth $63,518,000 after acquiring an additional 1,751,131 shares during the period. Qube Research & Technologies Ltd grew its position in Chewy by 141.2% in the third quarter. Qube Research & Technologies Ltd now owns 1,188,823 shares of the company’s stock worth $21,708,000 after acquiring an additional 695,907 shares during the period. Finally, AQR Capital Management LLC grew its position in Chewy by 13.3% in the third quarter. AQR Capital Management LLC now owns 799,640 shares of the company’s stock worth $14,601,000 after acquiring an additional 93,708 shares during the period. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Price Performance

Chewy stock opened at $15.44 on Thursday. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.78. The stock has a market cap of $6.72 billion, a PE ratio of 193.02, a P/E/G ratio of 8.28 and a beta of 0.91. The stock’s fifty day moving average is $16.57 and its two-hundred day moving average is $18.50.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Chewy had a return on equity of 11.69% and a net margin of 0.33%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. On average, research analysts expect that Chewy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chewy news, CAO Stacy Bowman sold 8,025 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $124,628.25. Following the transaction, the chief accounting officer now owns 243,769 shares of the company’s stock, valued at $3,785,732.57. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Chewy news, CAO Stacy Bowman sold 8,025 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total transaction of $124,628.25. Following the transaction, the chief accounting officer now owns 243,769 shares of the company’s stock, valued at $3,785,732.57. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Satish Mehta sold 8,019 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $121,247.28. Following the transaction, the chief technology officer now directly owns 569,594 shares in the company, valued at approximately $8,612,261.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,993 shares of company stock valued at $1,067,363. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on CHWY shares. Royal Bank of Canada decreased their price target on Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Jefferies Financial Group decreased their price target on Chewy from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. Citigroup decreased their price target on Chewy from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday. Barclays upgraded Chewy from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $19.00 to $30.00 in a research note on Thursday, January 11th. Finally, Mizuho started coverage on Chewy in a research note on Tuesday, March 19th. They set a “neutral” rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Chewy currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.83.

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.