Handelsbanken Fonder AB Decreases Holdings in Chewy, Inc. (NYSE:CHWY)

Handelsbanken Fonder AB reduced its position in Chewy, Inc. (NYSE:CHWY) by 25.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,900 shares of the company’s stock after selling 8,299 shares during the period. Handelsbanken Fonder AB’s holdings in Chewy were worth $588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CHWY. Headinvest LLC purchased a new position in Chewy in the third quarter worth about $39,000. Signaturefd LLC increased its position in shares of Chewy by 37.8% during the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after purchasing an additional 922 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Chewy by 15.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock worth $95,000 after purchasing an additional 543 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Chewy in the third quarter worth approximately $114,000. Finally, Liberty One Investment Management LLC grew its position in Chewy by 23.7% during the fourth quarter. Liberty One Investment Management LLC now owns 6,483 shares of the company’s stock valued at $153,000 after buying an additional 1,241 shares during the period. Institutional investors own 93.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CHWY shares. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price target on shares of Chewy in a research report on Thursday, March 21st. Wedbush reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Chewy in a report on Thursday, March 21st. The Goldman Sachs Group cut their price target on Chewy from $36.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Jefferies Financial Group reduced their price target on Chewy from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. Finally, Royal Bank of Canada lowered their price objective on Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Chewy has an average rating of “Moderate Buy” and a consensus price target of $27.50.

Chewy Stock Performance

Shares of Chewy stock opened at $14.98 on Wednesday. The stock has a 50 day moving average price of $16.65 and a 200-day moving average price of $18.56. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.78. The stock has a market cap of $6.51 billion, a price-to-earnings ratio of 187.21, a price-to-earnings-growth ratio of 8.25 and a beta of 0.91.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.09. Chewy had a net margin of 0.33% and a return on equity of 11.69%. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. Sell-side analysts predict that Chewy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at Chewy

In other Chewy news, CTO Satish Mehta sold 40,523 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $717,257.10. Following the transaction, the chief technology officer now owns 557,058 shares of the company’s stock, valued at approximately $9,859,926.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sumit Singh sold 6,728 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total value of $104,485.84. Following the completion of the sale, the chief executive officer now owns 129,991 shares in the company, valued at $2,018,760.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Satish Mehta sold 40,523 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $717,257.10. Following the transaction, the chief technology officer now owns 557,058 shares in the company, valued at $9,859,926.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 250,169 shares of company stock worth $4,396,079. 2.10% of the stock is currently owned by company 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.