Chewy, Inc. (NYSE:CHWY) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. cut its stake in Chewy, Inc. (NYSE:CHWY) by 10.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,563,930 shares of the company’s stock after selling 2,001,816 shares during the period. Baillie Gifford & Co.’s holdings in Chewy were worth $554,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of CHWY. Fifth Third Bancorp grew its stake in shares of Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares in the last quarter. Planning Capital Management Corp bought a new position in shares of Chewy in the third quarter worth $52,000. Wilmington Savings Fund Society FSB bought a new position in shares of Chewy in the third quarter worth $63,000. Finally, Allworth Financial LP boosted its stake in Chewy by 52.0% during the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after buying an additional 650 shares in the last quarter. Institutional investors own 93.09% of the company’s stock.

Chewy Trading Down 0.9 %

Shares of Chewy stock opened at $37.64 on Monday. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $40.09. The stock has a 50-day moving average price of $35.93 and a 200 day moving average price of $31.41. The company has a market cap of $15.32 billion, a P/E ratio of 41.36, a P/E/G ratio of 2.32 and a beta of 1.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period last year, the business earned ($0.08) EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CHWY shares. Mizuho raised Chewy from a “neutral” rating to an “outperform” rating and raised their target price for the company from $24.00 to $42.00 in a research note on Monday, January 6th. Barclays raised their target price on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and raised their target price for the company from $34.00 to $47.00 in a research note on Monday, January 13th. Finally, Argus raised Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chewy currently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Insider Activity at Chewy

In other news, CEO Sumit Singh sold 71,161 shares of Chewy stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the sale, the chief executive officer now owns 77,838 shares of the company’s stock, valued at approximately $2,529,735. This trade represents a 47.76 % 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, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,561,427 shares of company stock valued at $933,874,848. Corporate insiders own 2.10% of the company’s stock.

About Chewy

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.