Neuberger Berman Group LLC Has $56.85 Million Position in Chewy, Inc. (NYSE:CHWY)

Neuberger Berman Group LLC cut its holdings in Chewy, Inc. (NYSE:CHWY - Free Report) by 34.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,697,480 shares of the company's stock after selling 883,034 shares during the period. Neuberger Berman Group LLC owned approximately 0.42% of Chewy worth $56,849,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Janus Henderson Group PLC increased its holdings in shares of Chewy by 98.2% during the 3rd quarter. Janus Henderson Group PLC now owns 118,300 shares of the company's stock valued at $3,466,000 after acquiring an additional 58,600 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Chewy during the third quarter worth approximately $210,000. Stifel Financial Corp grew its holdings in Chewy by 5.6% during the third quarter. Stifel Financial Corp now owns 378,339 shares of the company's stock valued at $11,082,000 after purchasing an additional 19,938 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Chewy by 22.0% in the third quarter. Wellington Management Group LLP now owns 921,741 shares of the company's stock valued at $26,998,000 after purchasing an additional 166,187 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its stake in shares of Chewy by 19.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 58,661 shares of the company's stock worth $1,718,000 after buying an additional 9,548 shares during the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chewy

In other news, CEO Sumit Singh sold 8,552 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total value of $285,209.20. Following the sale, the chief executive officer now directly owns 62,096 shares of the company's stock, valued at approximately $2,070,901.60. This represents a 12.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Satish Mehta sold 83,639 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $40.00, for a total transaction of $3,345,560.00. Following the completion of the sale, the chief technology officer now owns 334,218 shares of the company's stock, valued at $13,368,720. This trade represents a 20.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 669,433 shares of company stock worth $25,205,364 in the last three months. Insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CHWY shares. JPMorgan Chase & Co. cut their price objective on Chewy from $40.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Evercore ISI raised 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 research report on Monday, January 13th. Barclays boosted their target price on shares of Chewy from $40.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Mizuho increased 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. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Chewy in a research report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Chewy has a consensus rating of "Moderate Buy" and a consensus price target of $38.58.

Chewy Stock Performance

NYSE CHWY traded up $0.40 during trading on Tuesday, hitting $34.65. The stock had a trading volume of 2,274,485 shares, compared to its average volume of 7,437,384. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $40.09. The company's 50-day moving average price is $34.46 and its two-hundred day moving average price is $33.41. The company has a market capitalization of $14.33 billion, a PE ratio of 38.08, a P/E/G ratio of 2.21 and a beta of 1.68.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.25. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share. As a group, equities analysts anticipate 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.