Woodline Partners LP Sells 351,864 Shares of Chewy, Inc. (NYSE:CHWY)

Woodline Partners LP cut its position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 20.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,401,607 shares of the company's stock after selling 351,864 shares during the quarter. Woodline Partners LP owned 0.34% of Chewy worth $46,940,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mutual of America Capital Management LLC bought a new position in shares of Chewy during the fourth quarter worth about $2,915,000. Raymond James Financial Inc. bought a new stake in Chewy during the fourth quarter worth about $69,789,000. Birch Hill Investment Advisors LLC bought a new stake in Chewy during the fourth quarter worth about $1,174,000. Interval Partners LP bought a new stake in Chewy during the fourth quarter worth about $1,536,000. Finally, Money Concepts Capital Corp bought a new stake in Chewy during the fourth quarter worth about $225,000. 93.09% of the stock is currently owned by institutional investors.

Chewy Trading Up 3.7%

Chewy stock opened at $43.32 on Tuesday. Chewy, Inc. has a 12 month low of $15.78 and a 12 month high of $43.50. The stock's 50 day moving average is $35.27 and its 200-day moving average is $35.05. The company has a market capitalization of $17.92 billion, a price-to-earnings ratio of 47.60, a PEG ratio of 2.21 and a beta of 1.69.

Chewy (NYSE:CHWY - Get Free Report) last posted its earnings results on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $3.20 billion. During the same quarter in the prior year, the business earned $0.07 earnings per share. The firm's revenue for the quarter was up 15.0% on a year-over-year basis. As a group, equities research analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 148,063 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $40.67, for a total value of $6,021,722.21. Following the sale, the chief executive officer now owns 705,252 shares of the company's stock, valued at approximately $28,682,598.84. This trade represents a 17.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Reeder sold 7,863 shares of Chewy stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $36.50, for a total value of $286,999.50. Following the completion of the transaction, the chief financial officer now owns 11,582 shares in the company, valued at approximately $422,743. The trade was a 40.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 307,411 shares of company stock valued at $11,928,229 over the last 90 days. 2.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft set a $27.00 target price on Chewy and gave the stock a "hold" rating in a report on Monday, April 14th. Mizuho upped their target price on Chewy from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Thursday, March 27th. Seaport Res Ptn upgraded Chewy to a "hold" rating in a report on Monday, March 24th. Morgan Stanley dropped their price objective on Chewy from $40.00 to $39.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Needham & Company LLC restated a "hold" rating on shares of Chewy in a research note on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.47.

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.

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