Chewy, Inc. (NYSE:CHWY) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC cut its holdings in Chewy, Inc. (NYSE:CHWY) by 34.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,697,480 shares of the company’s stock after selling 883,034 shares during the quarter. Neuberger Berman Group LLC’s holdings in Chewy were worth $56,849,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CHWY. Fifth Third Bancorp lifted its holdings in shares of 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 acquiring an additional 444 shares in the last quarter. Blue Trust Inc. lifted its holdings in Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after buying an additional 320 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Chewy in the 3rd quarter worth about $63,000. Allworth Financial LP grew its position in shares of Chewy by 52.0% during the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after buying an additional 650 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Chewy in the 4th quarter worth about $86,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CHWY. Seaport Res Ptn raised shares of Chewy to a “hold” rating in a research note on Monday, March 24th. Wolfe Research raised shares of Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Morgan Stanley increased their target price on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Wedbush reaffirmed an “outperform” rating and issued a $39.00 target price on shares of Chewy in a research note on Thursday, March 27th. Finally, Evercore ISI raised shares of Chewy from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $34.00 to $47.00 in a research note on Monday, January 13th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.47.

Insider Activity

In other Chewy news, CFO David Reeder sold 307,558 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $37.48, for a total value of $11,527,273.84. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 9,285 shares of the company’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 $371,400.00. Following the sale, the chief executive officer now owns 489,750 shares in the company, valued at $19,590,000. This represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 837,538 shares of company stock worth $31,310,938. Insiders own 2.10% of the company’s stock.

Chewy Trading Up 6.4 %

Shares of NYSE:CHWY opened at $33.21 on Thursday. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09. The stock has a market cap of $13.74 billion, a PE ratio of 36.49, a price-to-earnings-growth ratio of 2.21 and a beta of 1.68. The stock’s fifty day simple moving average is $34.73 and its two-hundred day simple moving average is $33.30.

Chewy (NYSE:CHWY) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS. On average, sell-side analysts forecast 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.