Castellan Group Cuts Position in Chewy, Inc. (NYSE:CHWY)

Castellan Group lessened its holdings in Chewy, Inc. (NYSE:CHWY) by 1.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 178,179 shares of the company’s stock after selling 2,163 shares during the quarter. Chewy comprises approximately 2.6% of Castellan Group’s holdings, making the stock its 15th biggest position. Castellan Group’s holdings in Chewy were worth $5,967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its stake in Chewy by 1.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock valued at $661,000 after purchasing an additional 301 shares during the last quarter. Blue Trust Inc. lifted its stake in Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares during the last quarter. Fifth Third Bancorp lifted its stake in Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after purchasing an additional 444 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in Chewy by 30.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company’s stock valued at $94,000 after purchasing an additional 650 shares during the last quarter. Finally, Washington Trust Advisors Inc. lifted its stake in Chewy by 0.3% in the third quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock valued at $8,156,000 after purchasing an additional 923 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $37.56 on Thursday. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $40.09. The firm has a fifty day moving average of $35.59 and a 200 day moving average of $31.18. The firm has a market capitalization of $15.29 billion, a PE ratio of 41.27, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period in the previous year, the business earned ($0.08) earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CHWY. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. JMP Securities reissued a “market outperform” rating and set a $37.00 target price on shares of Chewy in a report on Monday, December 16th. Citigroup raised shares of Chewy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $28.00 to $40.00 in a report on Friday, November 8th. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and boosted their target price for the company from $24.00 to $40.00 in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group boosted their target price on shares of Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Chewy currently has an average rating of “Moderate Buy” and an average price target of $36.80.

Insider Buying and Selling at Chewy

In other Chewy news, CEO Sumit Singh sold 71,161 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the sale, the chief executive officer now directly owns 77,838 shares in the company, valued at $2,529,735. This represents a 47.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Satish Mehta sold 8,056 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the sale, the chief technology officer now owns 585,962 shares of the company’s stock, valued at approximately $19,612,148.14. The trade was a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,561,427 shares of company stock worth $933,874,848 over the last three months. Company insiders own 2.10% of the company’s stock.

Chewy 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.