Bayesian Capital Management LP Has $851,000 Stake in Chewy, Inc. (NYSE:CHWY)

Bayesian Capital Management LP reduced its holdings in Chewy, Inc. (NYSE:CHWY - Free Report) by 34.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,400 shares of the company's stock after selling 13,600 shares during the quarter. Bayesian Capital Management LP's holdings in Chewy were worth $851,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CHWY. Wealth Enhancement Advisory Services LLC raised its position in shares of Chewy by 1.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company's stock valued at $661,000 after purchasing an additional 301 shares during the period. Blue Trust Inc. raised its holdings in Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock worth $58,000 after buying an additional 320 shares during the last quarter. Fifth Third Bancorp grew its holdings 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 acquiring an additional 444 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Chewy by 8.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company's stock worth $189,000 after buying an additional 450 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its stake in shares of Chewy by 30.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company's stock worth $94,000 after acquiring an additional 650 shares during the period. 93.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley dropped their target price on Chewy from $40.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft set a $27.00 price target on shares of Chewy and gave the company a "hold" rating in a research report on Monday, April 14th. Mizuho boosted their target price on Chewy from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Thursday, March 27th. Needham & Company LLC reiterated a "hold" rating on shares of Chewy in a report on Thursday, March 27th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $42.00 target price on shares of Chewy in a report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.47.

Insider Activity at Chewy

In other Chewy news, CFO David Reeder sold 7,863 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 11,582 shares of the company's stock, valued at $422,743. This represents a 40.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sumit Singh sold 8,552 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total transaction of $285,209.20. Following the completion of the transaction, the chief executive officer now owns 62,096 shares in the company, valued at $2,070,901.60. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,605 shares of company stock worth $3,872,220 in the last three months. 2.10% of the stock is owned by company insiders.

Chewy Stock Up 3.5 %

NYSE:CHWY traded up $1.32 during mid-day trading on Friday, reaching $39.56. The company's stock had a trading volume of 8,312,339 shares, compared to its average volume of 7,357,958. The firm has a market capitalization of $16.36 billion, a PE ratio of 43.47, a price-to-earnings-growth ratio of 2.21 and a beta of 1.69. Chewy, Inc. has a 1 year low of $15.53 and a 1 year high of $40.09. The stock has a fifty day moving average of $34.42 and a 200-day moving average of $34.40.

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

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.