Legacy Capital Group California Inc. Reduces Stock Holdings in Chewy, Inc. (NYSE:CHWY)

Legacy Capital Group California Inc. reduced its position in shares of Chewy, Inc. (NYSE:CHWY) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,934 shares of the company’s stock after selling 652 shares during the period. Legacy Capital Group California Inc.’s holdings in Chewy were worth $1,203,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CHWY. Fifth Third Bancorp increased its holdings in shares of Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after buying an additional 444 shares during the last quarter. Blue Trust Inc. grew its position in 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 acquiring an additional 905 shares during the period. Planning Capital Management Corp acquired a new stake in Chewy during the third quarter worth $52,000. Wilmington Savings Fund Society FSB purchased a new stake in Chewy in the third quarter valued at $63,000. Finally, Allworth Financial LP raised its position in Chewy by 52.0% in the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after purchasing an additional 650 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research report on Thursday, December 5th. BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. boosted their price target on shares of Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. JMP Securities reaffirmed a “market outperform” rating and set a $37.00 price objective on shares of Chewy in a research report on Monday, December 16th. Finally, Wedbush reissued an “outperform” rating and issued a $39.00 target price (up previously from $35.00) on shares of Chewy in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chewy presently has an average rating of “Moderate Buy” and an average price target of $36.80.

Chewy Stock Down 1.9 %

NYSE CHWY opened at $36.88 on Friday. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $40.09. The firm has a 50 day moving average of $36.40 and a two-hundred day moving average of $31.75. The stock has a market capitalization of $15.02 billion, a PE ratio of 40.53, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10.

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

Insider Activity

In other Chewy news, CFO David Reeder sold 307,558 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $37.48, for a total value of $11,527,273.84. Following the completion of the transaction, the chief financial officer now owns 546,257 shares in the company, valued at $20,473,712.36. This represents a 36.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction dated 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 90 days, insiders have sold 28,561,427 shares of company stock worth $933,874,848. 2.10% of the stock is currently owned by insiders.

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.