Lazard Asset Management LLC Reduces Stock Position in Chewy, Inc. (NYSE:CHWY)

Lazard Asset Management LLC reduced its holdings in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 94.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,768 shares of the company's stock after selling 202,171 shares during the quarter. Lazard Asset Management LLC's holdings in Chewy were worth $359,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Chewy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock worth $485,093,000 after purchasing an additional 3,493,926 shares during the last quarter. Durable Capital Partners LP bought a new position in Chewy in the 4th quarter valued at $79,050,000. Invesco Ltd. increased its position in shares of Chewy by 4,577.5% during the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company's stock valued at $73,381,000 after purchasing an additional 2,144,302 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Chewy during the 4th quarter worth $69,789,000. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of Chewy by 6,336.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,609,149 shares of the company's stock worth $53,890,000 after buying an additional 1,584,149 shares during the last quarter. 93.09% of the stock is owned by institutional investors.

Chewy Trading Up 1.3%

Shares of NYSE CHWY traded up $0.58 during midday trading on Tuesday, hitting $44.50. 3,287,160 shares of the company's stock were exchanged, compared to its average volume of 7,265,740. The business's fifty day moving average price is $36.40 and its two-hundred day moving average price is $35.54. The company has a market cap of $18.41 billion, a price-to-earnings ratio of 48.91, a PEG ratio of 2.21 and a beta of 1.69. Chewy, Inc. has a 12-month low of $16.45 and a 12-month high of $44.99.

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

Insider Buying and Selling

In related news, CTO Satish Mehta sold 71,365 shares of Chewy stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the transaction, the chief technology officer now owns 262,853 shares in the company, valued at $9,357,566.80. This trade represents a 21.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 148,063 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $40.67, for a total value of $6,021,722.21. Following the transaction, the chief executive officer now directly owns 705,252 shares in the company, valued at $28,682,598.84. This trade represents a 17.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 307,411 shares of company stock worth $11,928,229 in the last quarter. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CHWY has been the subject of a number of research analyst reports. JMP Securities decreased their price objective on shares of Chewy from $40.00 to $39.00 and set a "market outperform" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. lowered their price target on shares of Chewy from $40.00 to $36.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Mizuho boosted their target price on Chewy from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. The Goldman Sachs Group increased their price target on Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft set a $27.00 price objective on Chewy and gave the company a "hold" rating in a research note on Monday, April 14th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.47.

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.