Yousif Capital Management LLC Lowers Stock Position in Chewy, Inc. (NYSE:CHWY)

Yousif Capital Management LLC cut its stake in shares of Chewy, Inc. (NYSE:CHWY) by 1.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 54,813 shares of the company’s stock after selling 605 shares during the quarter. Yousif Capital Management LLC’s holdings in Chewy were worth $1,782,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in Chewy by 150.2% in the first quarter. Parallel Advisors LLC now owns 788 shares of the company’s stock valued at $26,000 after purchasing an additional 473 shares during the period. Banque Transatlantique SA acquired a new stake in shares of Chewy in the fourth quarter valued at about $30,000. UMB Bank n.a. grew its stake in shares of Chewy by 225.7% in the first quarter. UMB Bank n.a. now owns 1,866 shares of the company’s stock valued at $61,000 after buying an additional 1,293 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Chewy in the fourth quarter valued at about $67,000. Finally, Allworth Financial LP grew its stake in shares of Chewy by 52.0% in the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after buying an additional 650 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CHWY. Mizuho lowered Chewy from an “outperform” rating to a “neutral” rating and increased their target price for the company from $43.00 to $47.00 in a research note on Monday, June 9th. The Goldman Sachs Group increased their target price on Chewy from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Wedbush reiterated an “outperform” rating and issued a $45.00 target price (up previously from $39.00) on shares of Chewy in a research note on Thursday, June 12th. Wall Street Zen lowered Chewy from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Barclays increased their target price on Chewy from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, May 28th. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.72.

Insiders Place Their Bets

In related news, CFO David Reeder sold 7,863 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $36.50, for a total value of $286,999.50. Following the sale, the chief financial officer now owns 11,582 shares of the company’s stock, valued at approximately $422,743. This trade represents a 40.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 148,063 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.67, for a total value of $6,021,722.21. Following the completion of the sale, the chief executive officer now directly owns 705,252 shares in the company, valued at approximately $28,682,598.84. This trade represents a 17.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 236,046 shares of company stock valued at $9,387,635 in the last quarter. Insiders own 0.43% of the company’s stock.

Chewy Stock Up 0.1%

NYSE:CHWY opened at $41.71 on Tuesday. The business’s 50 day moving average is $40.05 and its two-hundred day moving average is $36.74. Chewy, Inc. has a 52 week low of $19.75 and a 52 week high of $48.62. The company has a market cap of $17.25 billion, a PE ratio of 45.83, a P/E/G ratio of 2.21 and a beta of 1.75.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the business posted $0.31 EPS. Chewy’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Chewy Company 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.