Legal & General Group Plc Sells 81,104 Shares of Chewy $CHWY

Legal & General Group Plc reduced its holdings in shares of Chewy (NYSE:CHWY) by 19.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 340,061 shares of the company’s stock after selling 81,104 shares during the quarter. Legal & General Group Plc’s holdings in Chewy were worth $11,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Osterweis Capital Management Inc. bought a new position in shares of Chewy during the second quarter valued at $30,000. CoreCap Advisors LLC lifted its holdings in shares of Chewy by 306.3% during the fourth quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock valued at $28,000 after purchasing an additional 637 shares in the last quarter. Strategic Advocates LLC bought a new position in shares of Chewy during the third quarter valued at $43,000. EverSource Wealth Advisors LLC lifted its holdings 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 valued at $46,000 after purchasing an additional 878 shares in the last quarter. Finally, Montag A & Associates Inc. lifted its holdings in shares of Chewy by 58.8% during the fourth quarter. Montag A & Associates Inc. now owns 1,270 shares of the company’s stock valued at $42,000 after purchasing an additional 470 shares in the last quarter. 93.09% of the stock is owned by institutional investors.

Chewy Stock Down 1.9%

NYSE CHWY opened at $21.07 on Thursday. The stock’s 50-day moving average price is $24.34 and its 200-day moving average price is $28.10. Chewy has a 52 week low of $19.30 and a 52 week high of $48.62. The company has a market capitalization of $8.78 billion, a P/E ratio of 40.51, a price-to-earnings-growth ratio of 0.94 and a beta of 1.44.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, March 25th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.19). Chewy had a return on equity of 53.48% and a net margin of 1.77%.The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period last year, the business earned $0.28 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. Research analysts anticipate that Chewy will post 0.88 EPS for the current year.

Insider Activity

In other news, CEO Sumit Singh sold 83,306 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $25.60, for a total value of $2,132,633.60. Following the transaction, the chief executive officer owned 874,061 shares of the company’s stock, valued at $22,375,961.60. This trade represents a 8.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 dated Wednesday, April 1st. The stock was sold at an average price of $26.91, for a total value of $219,289.59. The disclosure for this sale is available in the SEC filing. Insiders sold 95,675 shares of company stock worth $2,459,955 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Mizuho lowered their price target on Chewy from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday. Citigroup lowered their price target on Chewy from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Guggenheim reissued a “buy” rating and issued a $45.00 target price on shares of Chewy in a report on Monday, April 27th. Zacks Research downgraded Chewy from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Piper Sandler reissued an “overweight” rating on shares of Chewy in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Chewy currently has an average rating of “Moderate Buy” and a consensus target price of $41.45.

Chewy 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.