Algert Global LLC Lowers Stock Position in Chewy, Inc. (NYSE:CHWY)

Algert Global LLC reduced its holdings in shares of Chewy, Inc. (NYSE:CHWY) by 25.6% in the second quarter, HoldingsChannel reports. The fund owned 106,776 shares of the company’s stock after selling 36,783 shares during the period. Algert Global LLC’s holdings in Chewy were worth $2,909,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of Chewy in the 2nd quarter worth approximately $11,916,000. Scientech Research LLC purchased a new stake in shares of Chewy in the second quarter worth $369,000. The Manufacturers Life Insurance Company increased its stake in Chewy by 15.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,044 shares of the company’s stock valued at $737,000 after purchasing an additional 3,538 shares in the last quarter. Maverick Capital Ltd. raised its holdings in Chewy by 225.5% in the 2nd quarter. Maverick Capital Ltd. now owns 133,453 shares of the company’s stock worth $3,635,000 after acquiring an additional 92,450 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after purchasing an additional 2,636,526 shares in the last quarter. Institutional investors own 93.09% of the company’s stock.

Chewy Stock Up 0.2 %

Shares of Chewy stock opened at $29.36 on Wednesday. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $39.10. The business has a 50-day moving average price of $27.10 and a 200-day moving average price of $22.49. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of 163.11, a PEG ratio of 2.98 and a beta of 1.04.

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

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Sumit Singh sold 14,338 shares of Chewy stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the completion of the transaction, the chief executive officer now owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total value of $789,999,991.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,888,627 shares of company stock valued at $790,397,620. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Bank of America lifted their price target on shares of Chewy from $20.00 to $24.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Barclays boosted their price objective on shares of Chewy from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Robert W. Baird raised their target price on Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Wolfe Research assumed coverage on Chewy in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Chewy in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $29.11.

About Chewy

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.