GAMMA Investing LLC Has $96,000 Stock Position in Chewy (NYSE:CHWY)

GAMMA Investing LLC raised its stake in Chewy (NYSE:CHWY) by 327.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,964 shares of the company’s stock after buying an additional 2,271 shares during the period. GAMMA Investing LLC’s holdings in Chewy were worth $96,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Chewy by 31.8% during the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock valued at $485,093,000 after acquiring an additional 3,493,926 shares during the last quarter. Durable Capital Partners LP acquired a new position in shares of Chewy in the 4th quarter valued at about $79,050,000. Invesco Ltd. lifted its stake in shares of Chewy by 4,577.5% in the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock valued at $73,381,000 after purchasing an additional 2,144,302 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Chewy in the 4th quarter valued at about $69,789,000. Finally, Alyeska Investment Group L.P. lifted its stake in shares of Chewy by 6,336.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,609,149 shares of the company’s stock valued at $53,890,000 after purchasing an additional 1,584,149 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Stock Performance

Shares of CHWY stock opened at $41.17 on Monday. Chewy has a 52-week low of $19.75 and a 52-week high of $48.62. The company has a market capitalization of $17.09 billion, a PE ratio of 46.26, a price-to-earnings-growth ratio of 8.62 and a beta of 1.71. The business’s fifty day moving average is $42.12 and its 200 day moving average is $37.69.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts forecast that Chewy will post 0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft set a $27.00 price target on Chewy and gave the stock a “hold” rating in a research note on Monday, April 14th. Seaport Res Ptn raised Chewy to a “hold” rating in a report on Monday, March 24th. Wedbush reissued an “outperform” rating and set a $39.00 price objective on shares of Chewy in a report on Thursday, March 27th. Wall Street Zen lowered Chewy from a “buy” rating to a “hold” rating in a report on Saturday, June 14th. Finally, JMP Securities reduced their price objective on Chewy from $40.00 to $39.00 and set a “market outperform” rating for the company in a report on Monday, April 14th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.39.

Insider Buying and Selling

In other news, CTO Satish Mehta sold 9,243 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $36.50, for a total transaction of $337,369.50. Following the transaction, the chief technology officer directly owned 276,467 shares of the company’s stock, valued at approximately $10,091,045.50. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Reeder sold 11,582 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $36.44, for a total value of $422,048.08. Following the completion of the sale, the chief financial officer directly owned 397,556 shares in the company, valued at $14,486,940.64. The trade was a 2.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,167,614 shares of company stock valued at $1,259,102,436 over the last three months. 0.43% of the stock is owned by corporate insiders.

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.