Marshall Wace LLP Boosts Holdings in Chewy, Inc. (NYSE:CHWY)

Marshall Wace LLP lifted its stake in Chewy, Inc. (NYSE:CHWY) by 1,028.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,892,841 shares of the company’s stock after buying an additional 2,636,526 shares during the period. Marshall Wace LLP owned approximately 0.67% of Chewy worth $78,801,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Davidson Kempner Capital Management LP purchased a new position in shares of Chewy in the 2nd quarter valued at $18,759,000. Gabelli Funds LLC purchased a new position in shares of Chewy in the 2nd quarter valued at $232,000. Ensign Peak Advisors Inc grew its position in shares of Chewy by 29.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 57,193 shares of the company’s stock valued at $1,558,000 after buying an additional 12,950 shares during the last quarter. BC Partners Advisors L.P. purchased a new position in shares of Chewy in the 2nd quarter valued at $7,517,800,000. Finally, Trust Investment Advisors purchased a new position in shares of Chewy in the 2nd quarter valued at $1,764,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on CHWY shares. Royal Bank of Canada increased their target price on shares of Chewy from $24.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Argus cut shares of Chewy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Citigroup increased their price target on shares of Chewy from $16.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Raymond James cut shares of Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Finally, Guggenheim increased their price target on shares of Chewy from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.11.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total transaction of $40,576,103.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total transaction of $40,576,103.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the transaction, the chief executive officer now owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The disclosure for this sale can be found here. In the last three months, insiders sold 28,226,889 shares of company stock worth $830,973,724. 2.10% of the stock is owned by corporate insiders.

Chewy Stock Down 1.2 %

Shares of CHWY opened at $29.53 on Wednesday. The company has a 50-day simple moving average of $26.71 and a 200-day simple moving average of $22.08. The company has a market capitalization of $12.84 billion, a PE ratio of 164.03, a P/E/G ratio of 3.02 and a beta of 1.04. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $39.10.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. On average, research analysts anticipate that Chewy, Inc. will post 0.32 EPS for the current year.

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.