Horizon Investments LLC Cuts Stake in Chewy $CHWY

Horizon Investments LLC lowered its holdings in shares of Chewy (NYSE:CHWY) by 90.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,623 shares of the company’s stock after selling 35,300 shares during the period. Horizon Investments LLC’s holdings in Chewy were worth $120,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC purchased a new stake in shares of Chewy during the third quarter worth about $27,000. CoreCap Advisors LLC grew its position in shares of Chewy by 306.3% during the fourth quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock worth $28,000 after purchasing an additional 637 shares in the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of Chewy during the second quarter worth about $30,000. Strategic Advocates LLC purchased a new stake in shares of Chewy during the third quarter worth about $43,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Chewy by 412.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,091 shares of the company’s stock worth $46,000 after purchasing an additional 878 shares in the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CHWY. Royal Bank Of Canada raised their price target on Chewy from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, March 30th. The Goldman Sachs Group decreased their price objective on Chewy from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Guggenheim reissued a “buy” rating and issued a $45.00 target price on shares of Chewy in a report on Monday, April 27th. BNP Paribas Exane reissued a “neutral” rating and issued a $28.00 target price (down from $38.00) on shares of Chewy in a report on Thursday, March 26th. Finally, Argus raised shares of Chewy to a “strong-buy” rating in a report on Tuesday, April 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.91.

Insider Activity at Chewy

In other news, CEO Sumit Singh sold 4,220 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $25.60, for a total value of $108,032.00. Following the completion of the sale, the chief executive officer directly owned 123,955 shares of the company’s stock, valued at $3,173,248. This trade represents a 3.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Da-Wai Hu sold 8,149 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $26.91, for a total value of $219,289.59. The SEC filing for this sale provides additional information. Insiders sold a total of 95,675 shares of company stock valued at $2,459,955 over the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Chewy Stock Performance

CHWY stock opened at $22.91 on Monday. The firm has a fifty day moving average price of $25.91 and a 200 day moving average price of $29.82. Chewy has a fifty-two week low of $22.47 and a fifty-two week high of $48.62. The firm has a market cap of $9.54 billion, a PE ratio of 44.05, a price-to-earnings-growth ratio of 1.00 and a beta of 1.50.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.19). The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Chewy had a net margin of 1.77% and a return on equity of 53.48%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the business posted $0.28 earnings per share. On average, equities analysts predict that Chewy will post 0.89 EPS for the current year.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.