Seeyond Sells 3,426 Shares of Chewy, Inc. (NYSE:CHWY)

Posted by on Jun 10th, 2023

Seeyond lowered its stake in shares of Chewy, Inc. (NYSE:CHWY – Get Rating) by 73.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,248 shares of the company’s stock after selling 3,426 shares during the period. Seeyond’s holdings in Chewy were worth $46,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CHWY. Credit Suisse AG lifted its stake in Chewy by 119.6% during the fourth quarter. Credit Suisse AG now owns 133,221 shares of the company’s stock worth $4,940,000 after purchasing an additional 72,544 shares during the period. Neuberger Berman Group LLC lifted its stake in Chewy by 11.5% during the fourth quarter. Neuberger Berman Group LLC now owns 930,051 shares of the company’s stock worth $34,486,000 after purchasing an additional 95,916 shares during the period. Geode Capital Management LLC lifted its stake in Chewy by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 862,209 shares of the company’s stock worth $31,917,000 after purchasing an additional 35,730 shares during the period. American Century Companies Inc. lifted its stake in Chewy by 0.3% during the fourth quarter. American Century Companies Inc. now owns 880,439 shares of the company’s stock worth $32,647,000 after purchasing an additional 3,017 shares during the period. Finally, Advisory Research Inc. bought a new position in Chewy during the fourth quarter worth about $249,000. Institutional investors own 99.05% of the company’s stock.

Chewy Trading Down 2.8 %

CHWY opened at $36.80 on Friday. The stock has a 50-day moving average price of $33.56 and a 200-day moving average price of $38.64. Chewy, Inc. has a 12-month low of $26.47 and a 12-month high of $52.88. The stock has a market capitalization of $15.71 billion, a P/E ratio of 306.67 and a beta of 0.76.

Chewy (NYSE:CHWY – Get Rating) last issued its earnings results on Wednesday, March 22nd. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.28. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Chewy had a return on equity of 39.90% and a net margin of 0.51%. On average, equities research analysts predict that Chewy, Inc. will post -0.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CHWY. The Goldman Sachs Group lifted their target price on shares of Chewy from $41.00 to $42.00 in a research note on Thursday, June 1st. Roth Mkm assumed coverage on shares of Chewy in a research note on Friday, March 10th. They issued a “buy” rating and a $52.00 target price for the company. Raymond James raised shares of Chewy from a “market perform” rating to an “outperform” rating and set a $36.00 price target for the company in a report on Wednesday, May 3rd. Roth Capital reissued a “buy” rating on shares of Chewy in a report on Thursday, March 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Chewy in a report on Thursday, March 23rd. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and an average target price of $42.65.

Chewy Company Profile

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Chewy, Inc operates as a pure-play pet e-tailer in the United States. It supplies pet medications, food, treats and other pet-health products and services for dogs, cats, fish, birds, small pets, horses, and reptiles. The company was founded by Ryan Cohen and Michael Day in September 2011 and is headquartered in Dania Beach, FL.

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Institutional Ownership by Quarter for Chewy (NYSE:CHWY)

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