Alliancebernstein L.P. Invests $11.13 Million in Chewy, Inc. (NYSE:CHWY)

Alliancebernstein L.P. purchased a new position in Chewy, Inc. (NYSE:CHWY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 332,465 shares of the company’s stock, valued at approximately $11,134,000.

Several other large investors have also recently made changes to their positions in CHWY. Janus Henderson Group PLC increased its position in Chewy by 98.2% during the 3rd quarter. Janus Henderson Group PLC now owns 118,300 shares of the company’s stock valued at $3,466,000 after buying an additional 58,600 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Chewy during the 3rd quarter valued at about $210,000. Stifel Financial Corp grew its stake in Chewy by 5.6% during the 3rd quarter. Stifel Financial Corp now owns 378,339 shares of the company’s stock valued at $11,082,000 after purchasing an additional 19,938 shares during the last quarter. Wellington Management Group LLP grew its stake in Chewy by 22.0% during the 3rd quarter. Wellington Management Group LLP now owns 921,741 shares of the company’s stock valued at $26,998,000 after purchasing an additional 166,187 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its stake in Chewy by 19.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 58,661 shares of the company’s stock valued at $1,718,000 after purchasing an additional 9,548 shares during the last quarter. 93.09% of the stock is owned by institutional investors.

Chewy Stock Performance

NYSE:CHWY opened at $33.21 on Thursday. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.09. The stock has a market cap of $13.74 billion, a PE ratio of 36.49, a P/E/G ratio of 2.21 and a beta of 1.68. The stock has a 50 day moving average price of $34.73 and a 200 day moving average price of $33.30.

Chewy (NYSE:CHWY) last posted its quarterly 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 firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter last year, the firm earned $0.07 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CHWY has been the topic of several research analyst reports. Barclays boosted their price target on Chewy from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Wolfe Research upgraded Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Seaport Res Ptn upgraded Chewy to a “hold” rating in a research note on Monday, March 24th. Mizuho upped their target price on Chewy from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, March 27th. Finally, JMP Securities restated a “market outperform” rating and issued a $37.00 target price on shares of Chewy in a research note on Monday, December 16th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and an average target price of $38.47.

Insider Activity at Chewy

In other Chewy news, CTO Satish Mehta sold 168,105 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $36.32, for a total transaction of $6,105,573.60. Following the completion of the sale, the chief technology officer now owns 417,857 shares of the company’s stock, valued at $15,176,566.24. This trade represents a 28.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 114,130 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $37.70, for a total value of $4,302,701.00. Following the sale, the chief executive officer now directly owns 529,809 shares of the company’s stock, valued at approximately $19,973,799.30. This trade represents a 17.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 837,538 shares of company stock valued at $31,310,938. 2.10% of the stock is currently owned by insiders.

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.