Wellington Management Group LLP Sells 808,093 Shares of Chewy, Inc. (NYSE:CHWY)

Wellington Management Group LLP lowered its holdings in Chewy, Inc. (NYSE:CHWY) by 16.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,049,570 shares of the company’s stock after selling 808,093 shares during the quarter. Wellington Management Group LLP owned about 0.94% of Chewy worth $95,691,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Headinvest LLC acquired a new position in Chewy in the third quarter worth $39,000. Quest Partners LLC acquired a new position in Chewy in the fourth quarter worth $65,000. Signaturefd LLC lifted its stake in shares of Chewy by 37.8% during the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after acquiring an additional 922 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Chewy by 15.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock valued at $95,000 after acquiring an additional 543 shares during the period. Finally, Liberty One Investment Management LLC lifted its stake in shares of Chewy by 23.7% during the fourth quarter. Liberty One Investment Management LLC now owns 6,483 shares of the company’s stock valued at $153,000 after acquiring an additional 1,241 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Price Performance

Shares of Chewy stock opened at $25.45 on Friday. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $40.22. The business has a 50-day moving average of $18.62 and a two-hundred day moving average of $18.67. The company has a market capitalization of $11.07 billion, a P/E ratio of 141.39, a price-to-earnings-growth ratio of 4.30 and a beta of 1.00.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. On average, equities analysts anticipate that Chewy, Inc. will post 0.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CHWY shares. Piper Sandler upped their price target on Chewy from $16.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Needham & Company LLC upped their price target on Chewy from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. JPMorgan Chase & Co. upped their price target on Chewy from $22.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Bank of America cut their price target on Chewy from $17.00 to $16.50 and set an “underperform” rating on the stock in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group cut their target price on Chewy from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Chewy has an average rating of “Moderate Buy” and an average price target of $26.31.

Insider Buying and Selling

In related news, CTO Satish Mehta sold 8,019 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total transaction of $121,247.28. Following the completion of the transaction, the chief technology officer now directly owns 569,594 shares in the company, valued at $8,612,261.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Chewy news, CEO Sumit Singh sold 6,728 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total value of $104,485.84. Following the completion of the transaction, the chief executive officer now directly owns 129,991 shares in the company, valued at $2,018,760.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Satish Mehta sold 8,019 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $121,247.28. Following the completion of the transaction, the chief technology officer now owns 569,594 shares of the company’s stock, valued at $8,612,261.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,862 shares of company stock worth $1,047,242. 2.10% of the stock is owned by corporate insiders.

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.