143,563 Shares in Chewy (NYSE:CHWY) Bought by Generate Investment Management Ltd

Generate Investment Management Ltd purchased a new position in shares of Chewy (NYSE:CHWY - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 143,563 shares of the company's stock, valued at approximately $4,667,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHWY. Parallel Advisors LLC lifted its stake in Chewy by 150.2% in the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock valued at $26,000 after buying an additional 473 shares during the period. Banque Transatlantique SA acquired a new position in Chewy in the fourth quarter valued at approximately $30,000. Golden State Wealth Management LLC lifted its stake in Chewy by 104.6% in the first quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after buying an additional 481 shares during the period. North Star Investment Management Corp. lifted its stake in Chewy by 26.6% in the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock valued at $55,000 after buying an additional 353 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Chewy by 225.7% during the first quarter. UMB Bank n.a. now owns 1,866 shares of the company's stock valued at $61,000 after acquiring an additional 1,293 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO David Reeder sold 7,863 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $36.50, for a total value of $286,999.50. Following the transaction, the chief financial officer now owns 11,582 shares in the company, valued at approximately $422,743. The trade was a 40.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sumit Singh sold 148,063 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $40.67, for a total value of $6,021,722.21. Following the completion of the transaction, the chief executive officer now owns 705,252 shares in the company, valued at approximately $28,682,598.84. This trade represents a 17.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 236,046 shares of company stock valued at $9,387,635 over the last quarter. Company insiders own 0.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CHWY shares. Deutsche Bank Aktiengesellschaft set a $27.00 price objective on Chewy and gave the company a "hold" rating in a research note on Monday, April 14th. Seaport Res Ptn raised shares of Chewy to a "hold" rating in a report on Monday, March 24th. JMP Securities lowered their price target on shares of Chewy from $40.00 to $39.00 and set a "market outperform" rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group increased their price target on shares of Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Mizuho cut shares of Chewy from an "outperform" rating to a "neutral" rating and upped their price objective for the stock from $43.00 to $47.00 in a research report on Monday, June 9th. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Chewy currently has an average rating of "Moderate Buy" and an average target price of $43.39.

Chewy Stock Performance

NYSE CHWY opened at $43.32 on Wednesday. Chewy has a fifty-two week low of $19.75 and a fifty-two week high of $48.62. The stock's fifty day moving average is $41.05 and its two-hundred day moving average is $37.10. The firm has a market capitalization of $17.99 billion, a P/E ratio of 48.67, a price-to-earnings-growth ratio of 8.89 and a beta of 1.75.

Chewy (NYSE:CHWY - Get Free Report) last posted its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the company earned $0.31 EPS. Chewy's revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that Chewy will post 0.24 EPS for the current year.

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.

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