Y Intercept Hong Kong Ltd Sells 27,828 Shares of Chewy, Inc. (NYSE:CHWY)

Y Intercept Hong Kong Ltd trimmed its holdings in Chewy, Inc. (NYSE:CHWY) by 47.4% in the fourth quarter, HoldingsChannel reports. The fund owned 30,833 shares of the company’s stock after selling 27,828 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Chewy were worth $1,033,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Eagle Asset Management Inc. lifted its stake in Chewy by 97.9% in the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after purchasing an additional 975,647 shares during the last quarter. Centiva Capital LP purchased a new position in shares of Chewy in the third quarter worth about $2,949,000. Geode Capital Management LLC lifted its stake in shares of Chewy by 8.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after acquiring an additional 119,633 shares during the last quarter. Birch Hill Investment Advisors LLC purchased a new stake in Chewy during the 4th quarter valued at about $1,174,000. Finally, Simplify Asset Management Inc. bought a new position in Chewy during the 3rd quarter worth approximately $5,379,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CHWY shares. JMP Securities reiterated a “market outperform” rating and issued a $37.00 price objective on shares of Chewy in a research report on Monday, December 16th. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research report on Thursday, December 5th. Mizuho raised shares of Chewy from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $24.00 to $42.00 in a report on Monday, January 6th. Piper Sandler upped their price objective on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Finally, Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $47.00 in a research note on Monday, January 13th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.30.

Chewy Price Performance

Shares of NYSE CHWY opened at $35.91 on Thursday. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $40.09. The firm has a 50-day moving average of $36.57 and a 200 day moving average of $32.15. The stock has a market cap of $14.62 billion, a P/E ratio of 39.46, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned ($0.08) earnings per share. Research analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Transactions at Chewy

In other news, CFO David Reeder sold 307,558 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $37.48, for a total value of $11,527,273.84. Following the transaction, the chief financial officer now owns 546,257 shares in the company, valued at approximately $20,473,712.36. This represents a 36.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sumit Singh sold 57,432 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $37.90, for a total transaction of $2,176,672.80. Following the sale, the chief executive officer now directly owns 877,704 shares of the company’s stock, valued at $33,264,981.60. This trade represents a 6.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,561,427 shares of company stock valued at $933,874,848. Insiders own 2.10% of the company’s stock.

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.