Massachusetts Financial Services Co. MA Cuts Stock Holdings in Chewy, Inc. (NYSE:CHWY)

Massachusetts Financial Services Co. MA cut its stake in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 16.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 439,098 shares of the company's stock after selling 89,117 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.11% of Chewy worth $14,705,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock worth $485,093,000 after purchasing an additional 3,493,926 shares during the period. Bank of New York Mellon Corp boosted its holdings in Chewy by 9.8% in the 4th quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company's stock worth $150,345,000 after buying an additional 399,330 shares during the period. Clearbridge Investments LLC increased its stake in Chewy by 47.4% in the 4th quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company's stock worth $129,495,000 after buying an additional 1,243,981 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Chewy during the fourth quarter valued at about $69,789,000. Finally, Geode Capital Management LLC lifted its position in shares of Chewy by 23.9% in the fourth quarter. Geode Capital Management LLC now owns 1,921,737 shares of the company's stock valued at $64,389,000 after acquiring an additional 370,893 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other Chewy news, CEO Sumit Singh sold 9,285 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $40.00, for a total value of $371,400.00. Following the completion of the sale, the chief executive officer now directly owns 489,750 shares of the company's stock, valued at $19,590,000. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of the firm's stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 262,853 shares in the company, valued at approximately $9,357,566.80. This trade represents a 21.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 837,538 shares of company stock valued at $31,310,938. 2.10% of the stock is currently owned by insiders.

Chewy Stock Performance

NYSE CHWY traded up $2.16 on Friday, hitting $34.74. 7,821,089 shares of the stock were exchanged, compared to its average volume of 7,478,083. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $40.09. The firm has a market capitalization of $14.37 billion, a P/E ratio of 38.17, a P/E/G ratio of 2.21 and a beta of 1.68. The stock has a fifty day moving average price of $34.54 and a two-hundred day moving average price of $33.36.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.03 by $0.25. The company had revenue of $3.25 billion for 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 firm's revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 EPS. Sell-side analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CHWY. 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. Citigroup boosted their target price on shares of Chewy from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Guggenheim set a $42.00 target price on shares of Chewy and gave the company a "buy" rating in a research note on Tuesday, February 4th. Morgan Stanley lifted their price target on shares of Chewy from $38.00 to $40.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Finally, Evercore ISI raised shares of Chewy from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $34.00 to $47.00 in a report on Monday, January 13th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chewy presently has an average rating of "Moderate Buy" and an average price target of $38.47.

Chewy Company 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.