Pictet Asset Management Holding SA Trims Stock Holdings in Chewy $CHWY

Pictet Asset Management Holding SA decreased its position in Chewy (NYSE:CHWY) by 92.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 33,520 shares of the company’s stock after selling 400,795 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Chewy were worth $1,108,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Chewy by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 19,920,347 shares of the company’s stock worth $658,367,000 after buying an additional 1,017,214 shares during the period. Wellington Management Group LLP lifted its position in Chewy by 295.9% during the 3rd quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock valued at $712,841,000 after acquiring an additional 13,171,325 shares during the period. AQR Capital Management LLC lifted its position in Chewy by 120.2% during the 3rd quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock valued at $407,948,000 after acquiring an additional 5,564,803 shares during the period. State Street Corp boosted its stake in Chewy by 75.5% during the second quarter. State Street Corp now owns 6,170,197 shares of the company’s stock worth $262,974,000 after acquiring an additional 2,654,496 shares in the last quarter. Finally, Viking Global Investors LP purchased a new stake in Chewy in the third quarter worth about $221,815,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sumit Singh sold 4,220 shares of Chewy stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $25.60, for a total value of $108,032.00. Following the completion of the sale, the chief executive officer directly owned 123,955 shares in the company, valued at $3,173,248. The trade was a 3.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $26.91, for a total transaction of $219,289.59. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 95,675 shares of company stock valued at $2,459,955 over the last quarter. Company insiders own 0.43% of the company’s stock.

Chewy Price Performance

Shares of NYSE:CHWY opened at $24.52 on Wednesday. Chewy has a 1 year low of $22.74 and a 1 year high of $48.62. The company has a market cap of $10.22 billion, a P/E ratio of 47.16, a PEG ratio of 1.06 and a beta of 1.50. The stock’s fifty day moving average price is $25.95 and its 200-day moving average price is $30.02.

Chewy (NYSE:CHWY) last released 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 business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the business posted $0.28 earnings per share. Chewy’s quarterly revenue was up .5% compared to the same quarter last year. On average, sell-side analysts anticipate that Chewy will post 0.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chewy in a research note on Monday, April 20th. Piper Sandler restated an “overweight” rating on shares of Chewy in a research note on Thursday, February 5th. Barclays lowered their price objective on Chewy from $52.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. Royal Bank Of Canada boosted their target price on Chewy from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Finally, Zacks Research upgraded Chewy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.91.

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.