Balyasny Asset Management L.P. Decreases Stock Position in Chewy, Inc. (NYSE:CHWY)

Balyasny Asset Management L.P. reduced its holdings in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,088,551 shares of the company's stock after selling 199,284 shares during the quarter. Chewy makes up 0.3% of Balyasny Asset Management L.P.'s investment portfolio, making the stock its 29th biggest holding. Balyasny Asset Management L.P. owned about 1.50% of Chewy worth $203,906,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CHWY. Banque Transatlantique SA acquired a new stake in Chewy during the fourth quarter worth approximately $30,000. Fifth Third Bancorp grew its position in shares of Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock valued at $33,000 after buying an additional 444 shares during the last quarter. Blue Trust Inc. raised its stake in Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock worth $58,000 after acquiring an additional 320 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Chewy in the third quarter valued at $63,000. Finally, Allworth Financial LP grew its holdings in shares of Chewy by 52.0% during the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company's stock worth $71,000 after purchasing an additional 650 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup upped their target price on Chewy from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Needham & Company LLC restated a "hold" rating on shares of Chewy in a research report on Thursday, March 27th. Evercore ISI upgraded shares of Chewy from an "in-line" rating to an "outperform" rating and upped their price target for the company from $34.00 to $47.00 in a research report on Monday, January 13th. Argus raised shares of Chewy from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $39.00 target price on shares of Chewy in a report on Thursday, March 27th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $38.47.

Insider Transactions at Chewy

In other news, CEO Sumit Singh sold 8,552 shares of Chewy stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total value of $285,209.20. Following the transaction, the chief executive officer now directly owns 62,096 shares of the company's stock, valued at $2,070,901.60. The trade was a 12.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David Reeder sold 7,863 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $36.50, for a total transaction of $286,999.50. Following the sale, the chief financial officer now directly owns 11,582 shares of the company's stock, valued at approximately $422,743. This trade represents a 40.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 416,163 shares of company stock worth $15,399,494 in the last three months. Company insiders own 2.10% of the company's stock.

Chewy Trading Up 0.4 %

Shares of CHWY stock traded up $0.14 during trading hours on Wednesday, hitting $38.31. The company's stock had a trading volume of 3,744,767 shares, compared to its average volume of 7,363,173. Chewy, Inc. has a twelve month low of $15.08 and a twelve month high of $40.09. The stock has a market cap of $15.85 billion, a price-to-earnings ratio of 42.10, a P/E/G ratio of 2.21 and a beta of 1.69. The business has a fifty day moving average of $34.24 and a 200-day moving average of $34.17.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.25. The company had revenue of $3.25 billion during the quarter, compared to analysts' expectations of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share. On average, equities analysts expect that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

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.