National Bank of Canada FI Sells 756 Shares of Chewy, Inc. (NYSE:CHWY)

National Bank of Canada FI trimmed its position in Chewy, Inc. (NYSE:CHWY) by 12.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,305 shares of the company’s stock after selling 756 shares during the period. National Bank of Canada FI’s holdings in Chewy were worth $178,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mutual of America Capital Management LLC acquired a new stake in Chewy in the fourth quarter worth $2,915,000. Raymond James Financial Inc. acquired a new stake in Chewy during the 4th quarter worth $69,789,000. Geode Capital Management LLC lifted its holdings in Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after acquiring an additional 119,633 shares in the last quarter. Birch Hill Investment Advisors LLC acquired a new position in Chewy in the fourth quarter valued at about $1,174,000. Finally, Money Concepts Capital Corp bought a new stake in shares of Chewy in the fourth quarter worth about $225,000. Institutional investors own 93.09% of the company’s stock.

Chewy Price Performance

Chewy stock opened at $32.58 on Friday. The company’s 50-day moving average is $34.62 and its 200-day moving average is $33.32. The firm has a market capitalization of $13.48 billion, a PE ratio of 35.80, a P/E/G ratio of 2.21 and a beta of 1.68. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $40.09.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the previous year, the business earned $0.07 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. As a group, analysts expect that Chewy, Inc. will post 0.24 EPS for the current year.

Insider Activity at Chewy

In other news, CTO Satish Mehta sold 83,639 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief technology officer now owns 334,218 shares of the company’s stock, valued at approximately $13,368,720. This represents a 20.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sumit Singh sold 114,130 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $37.70, for a total value of $4,302,701.00. Following the transaction, the chief executive officer now owns 529,809 shares in the company, valued at approximately $19,973,799.30. This trade represents a 17.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 837,538 shares of company stock worth $31,310,938. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CHWY shares. Citigroup lifted their price objective on Chewy from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Barclays increased their price objective 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 upped their target price on shares of Chewy from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, March 27th. Finally, Morgan Stanley lifted their price target on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.47.

Chewy 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.