Clearbridge Investments LLC Reduces Stock Position in Chewy $CHWY

Key Points

• Clearbridge Investments cut its Chewy stake by 2.5% in the fourth quarter, selling 93,094 shares and ending with 3,576,529 shares valued at about $118.2 million.
• Chewy's insider selling has continued, with General Counsel Da-Wai Hu and CEO Sumit Singh both recently selling shares; insiders have sold 95,675 shares worth about $2.46 million over the past 90 days.
• Chewy reported quarterly EPS of $0.09, missing analyst estimates, while revenue matched expectations at $3.26 billion; the stock was trading near $20.59, well below its 50-day and 200-day moving averages.

Clearbridge Investments LLC lowered its stake in shares of Chewy (NYSE:CHWY - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,576,529 shares of the company's stock after selling 93,094 shares during the period. Clearbridge Investments LLC owned 0.86% of Chewy worth $118,204,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Transatlantique Private Wealth LLC lifted its position in shares of Chewy by 3.0% during the third quarter. Transatlantique Private Wealth LLC now owns 10,922 shares of the company's stock worth $442,000 after acquiring an additional 314 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Chewy by 12.5% during the third quarter. National Bank of Canada FI now owns 2,910 shares of the company's stock worth $118,000 after acquiring an additional 324 shares in the last quarter. Angeles Wealth Management LLC lifted its position in shares of Chewy by 6.6% during the third quarter. Angeles Wealth Management LLC now owns 5,305 shares of the company's stock worth $215,000 after acquiring an additional 330 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in shares of Chewy by 4.4% during the fourth quarter. 180 Wealth Advisors LLC now owns 9,222 shares of the company's stock worth $305,000 after acquiring an additional 390 shares in the last quarter. Finally, Dynasty Wealth Management LLC lifted its position in shares of Chewy by 6.6% during the fourth quarter. Dynasty Wealth Management LLC now owns 6,321 shares of the company's stock worth $209,000 after acquiring an additional 394 shares in the last quarter. Hedge funds and other institutional investors own 93.09% of the company's stock.

Insider Transactions at Chewy

In other Chewy news, General Counsel Da-Wai Hu sold 8,149 shares of the firm's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $26.91, for a total transaction of $219,289.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 4,220 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $25.60, for a total value of $108,032.00. Following the sale, the chief executive officer owned 123,955 shares in the company, valued at $3,173,248. The trade was a 3.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 95,675 shares of company stock worth $2,459,955 in the last 90 days. Company insiders own 0.34% of the company's stock.

Chewy Stock Down 0.3%

NYSE CHWY opened at $20.59 on Monday. The stock's 50-day simple moving average is $24.17 and its two-hundred day simple moving average is $27.91. Chewy has a twelve month low of $19.30 and a twelve month high of $48.62. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 39.59, a PEG ratio of 0.92 and a beta of 1.44.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.19). Chewy had a net margin of 1.77% and a return on equity of 53.48%. The firm had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The company's revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts expect that Chewy will post 0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on CHWY. Citigroup lowered their price objective on Chewy from $40.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday, May 12th. Mizuho lowered their price objective on Chewy from $50.00 to $40.00 and set an "outperform" rating on the stock in a research report on Wednesday. Bank of America lowered their price objective on Chewy from $46.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, March 26th. Wall Street Zen downgraded Chewy from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Citizens Jmp lowered their price objective on Chewy from $48.00 to $45.00 and set a "market outperform" rating on the stock in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $41.24.

Chewy Company Profile

Chewy, Inc NYSE: CHWY is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.

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