Quest Partners LLC Purchases Shares of 7,830 Chewy, Inc. (NYSE:CHWY)

Quest Partners LLC bought a new position in Chewy, Inc. (NYSE:CHWY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,830 shares of the company’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHWY. Susquehanna Fundamental Investments LLC purchased a new stake in Chewy during the second quarter valued at approximately $11,916,000. Cetera Advisors LLC purchased a new stake in Chewy during the 1st quarter valued at $334,000. Sanctuary Advisors LLC bought a new stake in Chewy in the second quarter worth $673,000. Marshall Wace LLP boosted its stake in Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after buying an additional 2,636,526 shares during the period. Finally, Simplify Asset Management Inc. bought a new position in Chewy during the third quarter valued at $5,379,000. 93.09% of the stock is owned by institutional investors.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.10% of the company’s stock.

Chewy Price Performance

CHWY opened at $34.05 on Wednesday. The firm has a fifty day moving average price of $29.99 and a 200 day moving average price of $26.39. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10. The stock has a market cap of $14.24 billion, a P/E ratio of 41.52, a P/E/G ratio of 3.36 and a beta of 1.06.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $2.86 billion for 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%. Equities analysts expect that Chewy, Inc. will post 0.32 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on CHWY shares. Robert W. Baird increased their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday. Bank of America raised Chewy from an “underperform” rating to a “buy” rating and raised their price target for the stock from $24.00 to $40.00 in a research note on Wednesday, November 20th. Barclays upped their price objective on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Piper Sandler reiterated an “overweight” rating and set a $35.00 target price on shares of Chewy in a research report on Friday, September 20th. Finally, UBS Group upped their price target on shares of Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Chewy has an average rating of “Moderate Buy” and an average target price of $32.35.

Chewy 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.