Wellington Management Group LLP Has $23.97 Million Stake in Chewy, Inc. (NYSE:CHWY)

Wellington Management Group LLP trimmed its holdings in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 22.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 715,851 shares of the company's stock after selling 205,890 shares during the period. Wellington Management Group LLP owned 0.18% of Chewy worth $23,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC purchased a new stake in shares of Chewy during the fourth quarter valued at approximately $2,915,000. Raymond James Financial Inc. purchased a new stake in Chewy during the 4th quarter worth $69,789,000. Polar Asset Management Partners Inc. lifted its holdings in Chewy by 26.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company's stock worth $9,670,000 after buying an additional 60,533 shares in the last quarter. Birch Hill Investment Advisors LLC purchased a new position in Chewy in the 4th quarter valued at about $1,174,000. Finally, Interval Partners LP acquired a new stake in Chewy during the 4th quarter valued at approximately $1,536,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Guggenheim set a $42.00 price target on Chewy and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Mizuho boosted their price objective on shares of Chewy from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Thursday, March 27th. Wedbush reiterated an "outperform" rating and set a $39.00 price objective on shares of Chewy in a research note on Thursday, March 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $42.00 target price on shares of Chewy in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. lowered their price objective on Chewy from $40.00 to $36.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Six 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.18.

Insider Activity

In related news, CEO Sumit Singh sold 8,552 shares of the 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 completion of the sale, the chief executive officer now directly owns 62,096 shares of the company's stock, valued at approximately $2,070,901.60. This represents a 12.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief technology officer now owns 262,853 shares in the company, valued at $9,357,566.80. This represents a 21.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 307,411 shares of company stock worth $11,928,229 over the last 90 days. 2.10% of the stock is owned by company insiders.

Chewy Stock Performance

Shares of NYSE CHWY traded down $0.35 during trading on Wednesday, hitting $47.27. The company had a trading volume of 4,301,562 shares, compared to its average volume of 6,912,789. The company has a market cap of $19.55 billion, a P/E ratio of 51.95, a PEG ratio of 2.21 and a beta of 1.69. The business's 50-day moving average is $38.17 and its 200 day moving average is $36.13. Chewy, Inc. has a 52 week low of $19.75 and a 52 week high of $48.12.

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 analysts' consensus estimates of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the firm earned $0.07 earnings per share. Chewy's revenue for the quarter was up 15.0% compared to the same quarter last year. On average, research analysts expect that Chewy, Inc. will post 0.24 EPS for the current 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.