Alliancebernstein L.P. Takes Position in Chewy, Inc. (NYSE:CHWY)

Alliancebernstein L.P. bought a new stake in Chewy, Inc. (NYSE:CHWY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp grew its holdings in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock valued at $33,000 after buying an additional 444 shares during the last quarter. Blue Trust Inc. increased its position in Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock worth $58,000 after purchasing an additional 320 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Chewy in the 3rd quarter valued at about $63,000. Allworth Financial LP lifted its holdings in Chewy by 52.0% in the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company's stock valued at $71,000 after purchasing an additional 650 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Chewy during the fourth quarter worth about $86,000. Hedge funds and other institutional investors own 93.09% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CHWY. The Goldman Sachs Group lifted their target price on shares of Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Guggenheim set a $42.00 target price on Chewy and gave the company a "buy" rating in a research note on Tuesday, February 4th. Wolfe Research raised Chewy from a "peer perform" rating to an "outperform" rating in a research note on Friday, January 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a research note on Thursday, March 27th. Finally, Wedbush restated an "outperform" rating and issued a $39.00 target price on shares of Chewy in a report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, Chewy currently has an average rating of "Moderate Buy" and a consensus target price of $38.47.

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Chewy Stock Up 6.6 %

CHWY stock traded up $2.16 during midday trading on Friday, reaching $34.74. The company had a trading volume of 7,821,089 shares, compared to its average volume of 7,478,083. The firm has a market capitalization of $14.37 billion, a PE ratio of 38.17, a P/E/G ratio of 2.21 and a beta of 1.68. The stock has a 50 day moving average price of $34.54 and a 200 day moving average price of $33.36. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $40.09.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.25. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 earnings per share. Research analysts predict that Chewy, Inc. will post 0.24 EPS for the current year.

Insider Transactions at Chewy

In related news, CEO Sumit Singh sold 8,552 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total transaction of $285,209.20. Following the completion of the transaction, the chief executive officer now owns 62,096 shares of the company's stock, valued at $2,070,901.60. This trade represents a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David Reeder sold 307,558 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $37.48, for a total transaction of $11,527,273.84. Following the completion of the sale, the chief financial officer now owns 546,257 shares in the company, valued at $20,473,712.36. The trade was a 36.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 837,538 shares of company stock valued at $31,310,938. 2.10% of the stock is currently owned by corporate insiders.

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.