Alliancebernstein L.P. Makes New Investment in Chewy, Inc. (NYSE:CHWY)

Alliancebernstein L.P. bought a new position in Chewy, Inc. (NYSE:CHWY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 332,465 shares of the company’s stock, valued at approximately $11,134,000. Alliancebernstein L.P. owned about 0.08% of Chewy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp boosted its position in Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after buying an additional 320 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Chewy in the third quarter worth about $63,000. Allworth Financial LP raised its stake in shares of Chewy by 52.0% in the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after buying an additional 650 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Chewy in the fourth quarter worth about $86,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chewy

In related news, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the completion of the transaction, the chief technology officer now owns 262,853 shares in the company, valued at $9,357,566.80. The trade was a 21.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sumit Singh sold 8,552 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total value of $285,209.20. Following the transaction, the chief executive officer now owns 62,096 shares of the company’s stock, valued at approximately $2,070,901.60. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 837,538 shares of company stock worth $31,310,938. 2.10% of the stock is currently owned by company insiders.

Chewy Stock Performance

Shares of Chewy stock opened at $33.21 on Thursday. The stock has a market cap of $13.74 billion, a price-to-earnings ratio of 36.49, a price-to-earnings-growth 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, Inc. has a one year low of $14.69 and a one year high of $40.09.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.25. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. Sell-side analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CHWY shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research note on Thursday, March 27th. Morgan Stanley raised their price objective on Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $34.00 to $47.00 in a research note on Monday, January 13th. Mizuho lifted their target price on Chewy from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, March 27th. Finally, JMP Securities reissued a “market outperform” rating and set 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.47.

Chewy Profile

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.