Mackenzie Financial Corp Lowers Position in Chewy, Inc. (NYSE:CHWY)

Mackenzie Financial Corp trimmed its stake in Chewy, Inc. (NYSE:CHWY) by 56.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,112 shares of the company’s stock after selling 14,132 shares during the quarter. Mackenzie Financial Corp’s holdings in Chewy were worth $263,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CHWY. Headinvest LLC acquired a new position in shares of Chewy during the third quarter worth $39,000. Allspring Global Investments Holdings LLC raised its holdings 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 worth $95,000 after purchasing an additional 543 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Chewy during the third quarter worth $114,000. Liberty One Investment Management LLC raised its holdings 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 worth $153,000 after purchasing an additional 1,241 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of Chewy by 26.4% during the third quarter. Daiwa Securities Group Inc. now owns 6,606 shares of the company’s stock worth $121,000 after acquiring an additional 1,380 shares during the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CTO Satish Mehta sold 40,523 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $17.70, for a total value of $717,257.10. Following the completion of the sale, the chief technology officer now directly owns 557,058 shares of the company’s stock, valued at approximately $9,859,926.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Stacy Bowman sold 8,025 shares of the 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 $124,628.25. Following the completion of the sale, the chief accounting officer now owns 243,769 shares of the company’s stock, valued at approximately $3,785,732.57. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Satish Mehta sold 40,523 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $17.70, for a total value of $717,257.10. Following the completion of the sale, the chief technology officer now directly owns 557,058 shares of the company’s stock, valued at approximately $9,859,926.60. The disclosure for this sale can be found here. Insiders sold a total of 250,169 shares of company stock valued at $4,396,079 in the last ninety days. 2.10% of the stock is owned by insiders.

Chewy Stock Performance

Shares of NYSE:CHWY opened at $15.84 on Monday. The company’s fifty day moving average is $16.70 and its 200-day moving average is $18.58. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $40.78. The company has a market capitalization of $6.89 billion, a PE ratio of 198.02, a P/E/G ratio of 8.25 and a beta of 0.90.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Chewy had a return on equity of 11.69% and a net margin of 0.33%. On average, analysts forecast that Chewy, Inc. will post 0.08 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on CHWY. Wedbush restated an “outperform” rating and set a $25.00 price target on shares of Chewy in a research report on Thursday, March 21st. JMP Securities restated a “market outperform” rating and set a $28.00 price target on shares of Chewy in a research report on Friday, March 15th. Royal Bank of Canada decreased their target price on shares of Chewy from $35.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Piper Sandler decreased their target price on shares of Chewy from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. Finally, Bank of America decreased their target price on shares of Chewy from $17.00 to $16.50 and set an “underperform” rating for the company in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.50.

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.