Alliancebernstein L.P. Buys New Position in Chewy, Inc. (NYSE:CHWY)

Alliancebernstein L.P. acquired a new stake in Chewy, Inc. (NYSE:CHWY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 332,465 shares of the company's stock, valued at approximately $11,134,000. Alliancebernstein L.P. owned about 0.08% of Chewy at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Chewy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock valued at $485,093,000 after acquiring an additional 3,493,926 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Chewy during the fourth quarter worth about $69,789,000. Wealthfront Advisers LLC acquired a new position in shares of Chewy in the fourth quarter valued at approximately $46,003,000. Clearbridge Investments LLC lifted its stake in shares of Chewy by 47.4% during the fourth quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company's stock valued at $129,495,000 after buying an additional 1,243,981 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in Chewy by 134.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,620,809 shares of the company's stock worth $54,281,000 after acquiring an additional 929,116 shares during the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Stock Up 1.6 %

Shares of Chewy stock traded up $0.54 on Tuesday, hitting $34.79. 801,705 shares of the company's stock traded hands, compared to its average volume of 7,431,651. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $40.09. The stock has a market cap of $14.39 billion, a P/E ratio of 38.25, a PEG ratio of 2.21 and a beta of 1.68. The firm's 50-day moving average is $34.46 and its 200 day moving average is $33.41.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.25. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the business earned $0.07 EPS. Equities research analysts forecast that Chewy, Inc. will post 0.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays increased their price target on Chewy from $40.00 to $44.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Guggenheim set a $42.00 price target on Chewy and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Argus raised shares of Chewy from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. decreased their target price on shares of Chewy from $40.00 to $36.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Morgan Stanley increased their price target on shares of Chewy from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Chewy has a consensus rating of "Moderate Buy" and an average target price of $38.58.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 83,639 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $3,345,560.00. Following the sale, the chief technology officer now directly owns 334,218 shares in the company, valued at approximately $13,368,720. This trade represents a 20.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sumit Singh sold 4,000 shares of Chewy stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $37.52, for a total transaction of $150,080.00. Following the completion of the sale, the chief executive officer now owns 518,581 shares in the company, valued at approximately $19,457,159.12. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 669,433 shares of company stock worth $25,205,364 over the last ninety days. 2.10% of the stock is owned by insiders.

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.