Lazard Asset Management LLC Lowers Holdings in Chewy, Inc. (NYSE:CHWY)

Lazard Asset Management LLC reduced its position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 94.9% in the fourth quarter, according to its most recent filing with the 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.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Blue Trust Inc. lifted its stake in shares of 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 during the last quarter. Fifth Third Bancorp grew its stake in 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. PNC Financial Services Group Inc. grew its stake in Chewy by 8.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company's stock valued at $189,000 after purchasing an additional 450 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in Chewy by 30.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company's stock worth $94,000 after purchasing an additional 650 shares during the period. Finally, Allworth Financial LP grew its position in Chewy by 52.0% during the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company's stock valued at $71,000 after buying an additional 650 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Sumit Singh sold 148,063 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $40.67, for a total transaction of $6,021,722.21. Following the sale, the chief executive officer now owns 705,252 shares in the company, valued at approximately $28,682,598.84. The trade was a 17.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David Reeder sold 7,863 shares of Chewy stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $36.50, for a total transaction of $286,999.50. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 307,411 shares of company stock valued at $11,928,229 over the last quarter. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on CHWY shares. Needham & Company LLC reiterated a "hold" rating on shares of Chewy in a research report on Thursday, March 27th. Wedbush restated an "outperform" rating and issued a $39.00 price target on shares of Chewy in a research note on Thursday, March 27th. JMP Securities dropped their price target on Chewy from $40.00 to $39.00 and set a "market outperform" rating on the stock in a research report on Monday, April 14th. Guggenheim set a $42.00 target price on shares of Chewy and gave the company a "buy" rating in a report on Tuesday, February 4th. Finally, Citigroup boosted their target price on shares of Chewy from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Chewy presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.79.

Chewy Stock Performance

Chewy stock traded down $0.64 during mid-day trading on Wednesday, reaching $44.02. The company's stock had a trading volume of 677,655 shares, compared to its average volume of 7,252,161. The company has a market capitalization of $18.21 billion, a P/E ratio of 48.27, a PEG ratio of 2.21 and a beta of 1.69. The firm's fifty day moving average price is $36.65 and its two-hundred day moving average price is $35.60. Chewy, Inc. has a 12-month low of $16.45 and a 12-month high of $45.01.

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

Chewy 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.