Clearbridge Investments LLC Sells 93,094 Shares of Chewy $CHWY

Clearbridge Investments LLC reduced its stake in shares of Chewy (NYSE:CHWY) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,576,529 shares of the company’s stock after selling 93,094 shares during the quarter. Clearbridge Investments LLC’s holdings in Chewy were worth $118,204,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CHWY. CoreCap Advisors LLC grew its stake in shares of Chewy by 306.3% during the fourth quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock valued at $28,000 after buying an additional 637 shares during the last quarter. Harbour Investments Inc. grew its stake in shares of Chewy by 81.4% during the fourth quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock valued at $30,000 after buying an additional 407 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in shares of Chewy during the second quarter valued at about $30,000. Los Angeles Capital Management LLC bought a new position in shares of Chewy during the fourth quarter valued at about $31,000. Finally, Modus Advisors LLC bought a new position in shares of Chewy during the fourth quarter valued at about $34,000. 93.09% of the stock is owned by institutional investors.

Chewy Price Performance

NYSE CHWY opened at $20.59 on Monday. The stock has a market capitalization of $8.58 billion, a PE ratio of 39.59, a PEG ratio of 0.92 and a beta of 1.44. Chewy has a 1 year low of $19.30 and a 1 year high of $48.62. The business’s 50-day moving average is $24.17 and its 200 day moving average is $27.91.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, March 25th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.19). The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.26 billion. Chewy had a return on equity of 53.48% and a net margin of 1.77%.The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 earnings per share. As a group, equities research analysts anticipate that Chewy will post 0.87 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays reduced their price objective on Chewy from $48.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Raymond James Financial reissued an “outperform” rating and issued a $25.00 target price on shares of Chewy in a research note on Friday. Weiss Ratings cut Chewy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 19th. Wall Street Zen cut Chewy from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research cut Chewy from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.24.

Insider Activity at Chewy

In other Chewy news, General Counsel Da-Wai Hu sold 8,149 shares of Chewy stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $26.91, for a total transaction of $219,289.59. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sumit Singh sold 4,220 shares of Chewy stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $25.60, for a total value of $108,032.00. Following the sale, the chief executive officer directly owned 123,955 shares in the company, valued at approximately $3,173,248. The trade was a 3.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 95,675 shares of company stock worth $2,459,955. Insiders own 0.34% of the company’s stock.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.