Two Sigma Investments LP Lowers Position in Chewy, Inc. (NYSE:CHWY)

Two Sigma Investments LP decreased its position in shares of Chewy, Inc. (NYSE:CHWY) by 70.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 178,824 shares of the company’s stock after selling 421,356 shares during the period. Two Sigma Investments LP’s holdings in Chewy were worth $5,989,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Park Avenue Securities LLC purchased a new stake in Chewy in the fourth quarter worth $232,000. Mutual Advisors LLC bought a new stake in shares of Chewy during the 4th quarter valued at $198,000. Fifth Third Bancorp grew its position in shares of Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after buying an additional 444 shares during the period. Blue Trust Inc. increased its stake in shares of 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 acquiring an additional 320 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Chewy during the 4th quarter valued at about $86,000. Institutional investors own 93.09% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the completion of the sale, the chief technology officer now owns 262,853 shares of the company’s stock, valued at $9,357,566.80. The trade was a 21.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sumit Singh sold 8,552 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total value of $285,209.20. Following the completion of the transaction, the chief executive officer now directly owns 62,096 shares in the company, valued at approximately $2,070,901.60. This represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 307,411 shares of company stock valued at $11,928,229. Insiders own 2.10% of the company’s stock.

Chewy Stock Down 0.0%

CHWY opened at $43.91 on Tuesday. The stock has a market capitalization of $18.16 billion, a price-to-earnings ratio of 48.25, a PEG ratio of 2.21 and a beta of 1.69. The firm has a 50 day moving average price of $36.40 and a 200-day moving average price of $35.54. Chewy, Inc. has a twelve month low of $16.45 and a twelve month high of $44.62.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on CHWY shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Chewy in a research note on Thursday, March 27th. The Goldman Sachs Group upped their price target on Chewy from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. lowered their price objective on Chewy from $40.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Morgan Stanley cut their target price on Chewy from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Finally, Needham & Company LLC restated a “hold” rating on shares of Chewy in a report on Thursday, March 27th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.47.

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.