Chewy, Inc. (NYSE:CHWY) Stock Position Reduced by Bank of Montreal Can

Bank of Montreal Can lowered its stake in Chewy, Inc. (NYSE:CHWY - Free Report) by 74.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,928 shares of the company's stock after selling 118,238 shares during the period. Bank of Montreal Can's holdings in Chewy were worth $1,337,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CHWY. Cerity Partners LLC increased its stake in shares of Chewy by 12.4% in the 4th quarter. Cerity Partners LLC now owns 17,230 shares of the company's stock valued at $550,000 after acquiring an additional 1,906 shares in the last quarter. FMR LLC raised its holdings in Chewy by 32.4% during the 4th quarter. FMR LLC now owns 5,288,757 shares of the company's stock valued at $177,120,000 after acquiring an additional 1,293,428 shares during the period. Federated Hermes Inc. purchased a new stake in Chewy in the 4th quarter worth approximately $513,000. Thames Capital Management LLC boosted its position in shares of Chewy by 42.7% during the 4th quarter. Thames Capital Management LLC now owns 143,715 shares of the company's stock valued at $4,813,000 after acquiring an additional 43,030 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Chewy by 287.6% in the 4th quarter. Russell Investments Group Ltd. now owns 333,758 shares of the company's stock worth $11,232,000 after purchasing an additional 247,645 shares in the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Sumit Singh sold 9,285 shares of the company's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total transaction of $371,400.00. Following the completion of the sale, the chief executive officer now directly owns 489,750 shares in the company, valued at $19,590,000. This represents a 1.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Satish Mehta sold 83,639 shares of the company's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $3,345,560.00. Following the completion of the sale, the chief technology officer now directly owns 334,218 shares of the company's stock, valued at $13,368,720. The trade was a 20.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 537,831 shares of company stock valued at $20,246,710 over the last quarter. Company insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Mizuho upped their price target on shares of Chewy from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Thursday, March 27th. Needham & Company LLC reissued a "hold" rating on shares of Chewy in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft set a $27.00 target price on Chewy and gave the stock a "hold" rating in a research note on Monday, April 14th. Morgan Stanley reduced their price target on shares of Chewy from $40.00 to $39.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Argus raised shares of Chewy from a "hold" rating to a "buy" rating in a report on Thursday, January 23rd. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.47.

Chewy Stock Performance

Shares of CHWY traded up $0.08 during midday trading on Wednesday, hitting $36.10. The company had a trading volume of 1,585,692 shares, compared to its average volume of 5,581,073. The company's 50-day simple moving average is $34.14 and its 200-day simple moving average is $33.63. The firm has a market capitalization of $14.93 billion, a P/E ratio of 39.67, a P/E/G ratio of 2.21 and a beta of 1.68. Chewy, Inc. has a 1 year low of $14.69 and a 1 year 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 EPS for the quarter, topping the consensus estimate of $0.03 by $0.25. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period last year, the business earned $0.07 EPS. Chewy's revenue for the quarter was up 15.0% compared to the same quarter last year. Equities analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

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.