Citigroup Inc. Has $6.48 Million Stock Holdings in Chewy $CHWY

Key Points

• Citigroup Inc. reduced its holdings in Chewy (NYSE:CHWY) by 23.1%, owning 199,459 shares worth approximately $6.48 million after selling 60,080 shares in the first quarter.
• Several institutional investors have increased their stakes in Chewy, with Alyeska Investment Group raising its holdings by 6,336.6% to 1,609,149 shares, valued at about $53.89 million.
• Chewy's stock currently has a market cap of $16.81 billion, a P/E ratio of 45.49, and an average price target of $43.78 from analysts, indicating a "Moderate Buy" rating.

Citigroup Inc. reduced its holdings in shares of Chewy (NYSE:CHWY - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 199,459 shares of the company's stock after selling 60,080 shares during the period. Citigroup Inc.'s holdings in Chewy were worth $6,484,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Durable Capital Partners LP bought a new position in Chewy during the fourth quarter worth about $79,050,000. Assenagon Asset Management S.A. bought a new stake in shares of Chewy in the 1st quarter valued at approximately $61,390,000. Alyeska Investment Group L.P. raised 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 in the last quarter. Northern Trust Corp raised its holdings in shares of Chewy by 151.7% in the 4th quarter. Northern Trust Corp now owns 921,580 shares of the company's stock worth $30,864,000 after buying an additional 555,372 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of Chewy by 6.5% during the 1st quarter. Blair William & Co. IL now owns 849,834 shares of the company's stock worth $27,628,000 after buying an additional 52,141 shares during the period. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CHWY has been the topic of a number of analyst reports. UBS Group reiterated a "neutral" rating and issued a $44.00 price target on shares of Chewy in a research report on Tuesday, August 5th. Citigroup restated an "outperform" rating on shares of Chewy in a research note on Thursday, July 10th. Royal Bank Of Canada reiterated an "outperform" rating and set a $44.00 target price (up previously from $42.00) on shares of Chewy in a research report on Thursday, June 12th. Guggenheim reissued a "buy" rating and set a $45.00 price target (up from $42.00) on shares of Chewy in a report on Thursday, June 12th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $50.00 price objective (up from $39.00) on shares of Chewy in a research note on Thursday, June 12th. Nine research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $43.78.

Insider Buying and Selling at Chewy

In related news, CTO Satish Mehta sold 8,727 shares of Chewy stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $35.82, for a total transaction 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 $9,903,047.94. The trade was a 3.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $41.75, for a total value of $1,250,000,010.00. The disclosure for this sale can be found here. Insiders sold a total of 30,008,777 shares of company stock valued at $1,252,444,321 in the last three months. Insiders own 0.43% of the company's stock.

Chewy Stock Up 4.0%

Chewy stock opened at $40.49 on Monday. The business's 50-day simple moving average is $39.42 and its 200 day simple moving average is $37.94. The stock has a market cap of $16.81 billion, a price-to-earnings ratio of 45.49, a P/E/G ratio of 8.45 and a beta of 1.67. Chewy has a 12-month low of $25.19 and a 12-month high of $48.62.

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

Want to see what other hedge funds are holding CHWY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chewy (NYSE:CHWY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.