Chewy (NYSE:CHWY) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Chewy by 0.6% during Q1, now owning 14.4 million shares worth $468 million.
• Chewy's recent earnings report showed a 6.3% revenue increase compared to the previous year, surpassing analysts' expectations with a net revenue of $3.12 billion.
• Analysts maintain a consensus rating of "Moderate Buy" for Chewy, with a price target averaging $43.78.

Vanguard Group Inc. decreased its position in Chewy (NYSE:CHWY - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,396,928 shares of the company's stock after selling 87,789 shares during the quarter. Vanguard Group Inc. owned 3.48% of Chewy worth $468,044,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in Chewy by 150.2% during the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock worth $26,000 after purchasing an additional 473 shares in the last quarter. Banque Transatlantique SA acquired a new stake in Chewy during the fourth quarter worth approximately $30,000. Golden State Wealth Management LLC raised its holdings in Chewy by 104.6% during the first quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock worth $31,000 after purchasing an additional 481 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Chewy during the first quarter worth approximately $44,000. Finally, North Star Investment Management Corp. raised its holdings in Chewy by 26.6% during the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock worth $55,000 after purchasing an additional 353 shares in 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 have weighed in on the stock. Citigroup reissued an "outperform" rating on shares of Chewy in a report on Thursday, July 10th. Cowen reissued a "buy" rating on shares of Chewy in a report on Friday, June 6th. UBS Group reissued a "neutral" rating and set a $44.00 price objective on shares of Chewy in a report on Tuesday, August 5th. Royal Bank Of Canada restated an "outperform" rating and set a $44.00 target price (up from $42.00) on shares of Chewy in a research report on Thursday, June 12th. Finally, Jefferies Financial Group restated a "hold" rating and set a $43.00 target price (up from $41.00) on shares of Chewy in a research report on Thursday, June 5th. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Chewy has a consensus rating of "Moderate Buy" and a consensus price target of $43.78.

Chewy Price Performance

NYSE:CHWY opened at $40.49 on Friday. The firm's fifty day moving average price is $39.42 and its 200 day moving average price is $37.96. Chewy has a 1-year low of $25.19 and a 1-year high of $48.62. The firm has a market cap of $16.81 billion, a price-to-earnings ratio of 45.49, a price-to-earnings-growth ratio of 8.13 and a beta of 1.67.

Chewy (NYSE:CHWY - Get Free Report) last released its earnings results on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the company earned $0.31 earnings per share. Chewy's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, analysts expect that Chewy will post 0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chewy news, CAO William G. Billings sold 20,142 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $35.57, for a total value of $716,450.94. Following the completion of the sale, the chief accounting officer owned 29,464 shares of the company's stock, valued at approximately $1,048,034.48. This trade represents a 40.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Satish Mehta sold 8,727 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $35.82, for a total value of $312,601.14. Following the completion of the sale, the chief technology officer directly owned 276,467 shares of the company's stock, valued at approximately $9,903,047.94. This trade represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,008,777 shares of company stock worth $1,252,444,321 in the last ninety days. 0.43% of the stock is owned by insiders.

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.

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