Allspring Global Investments Holdings LLC Sells 1,401,528 Shares of Chewy $CHWY

Allspring Global Investments Holdings LLC reduced its stake in Chewy (NYSE:CHWY) by 54.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,155,929 shares of the company’s stock after selling 1,401,528 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Chewy were worth $38,712,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP increased its holdings in Chewy by 295.9% during the 3rd quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock worth $712,841,000 after purchasing an additional 13,171,325 shares during the period. AQR Capital Management LLC increased its holdings in Chewy by 120.2% during the third quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock valued at $407,948,000 after buying an additional 5,564,803 shares during the period. Viking Global Investors LP purchased a new position in Chewy during the third quarter valued at approximately $221,815,000. State Street Corp raised its stake in Chewy by 75.5% in the second quarter. State Street Corp now owns 6,170,197 shares of the company’s stock worth $262,974,000 after buying an additional 2,654,496 shares in the last quarter. Finally, Champlain Investment Partners LLC purchased a new stake in Chewy during the third quarter worth $89,022,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CTO Satish Mehta sold 13,013 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $28.99, for a total transaction of $377,246.87. Following the transaction, the chief technology officer owned 273,835 shares in the company, valued at $7,938,476.65. This represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.43% of the company’s stock.

Chewy Trading Up 0.9%

Shares of CHWY stock opened at $26.86 on Friday. Chewy has a 12-month low of $22.74 and a 12-month high of $48.62. The business’s fifty day simple moving average is $26.42 and its 200-day simple moving average is $31.91. The company has a market cap of $11.15 billion, a PE ratio of 51.65, a PEG ratio of 1.66 and a beta of 1.61.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $3.26 billion. During the same period in the previous year, the business earned $0.28 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts forecast that Chewy will post 0.24 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CHWY shares. JPMorgan Chase & Co. cut their price target on Chewy from $46.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, March 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chewy in a research report on Wednesday, January 21st. Citigroup cut their target price on Chewy from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. TD Cowen boosted their target price on shares of Chewy from $39.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Finally, Wedbush decreased their price target on shares of Chewy from $42.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, March 26th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and an average price target of $42.91.

About Chewy

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.