219,698,611 Shares in Chewy $CHWY Bought by BC Partners PE LP

Key Points

• BC Partners PE LP acquired 219,698,611 shares of Chewy, valued at approximately $7.1 billion, making it the largest investor in the company with an ownership stake of about 53.11%.
• Chewy has received an upgrade from analysts, with a consensus average rating of "Moderate Buy" and a target price of $43.94, indicating positive market confidence.
• The company's quarterly earnings report showed a 6.3% year-over-year revenue increase and an EPS of $0.35, exceeding analysts' expectations by $0.01.

BC Partners PE LP purchased a new stake in shares of Chewy (NYSE:CHWY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 219,698,611 shares of the company's stock, valued at approximately $7,142,402,000. Chewy accounts for 80.7% of BC Partners PE LP's holdings, making the stock its biggest position. BC Partners PE LP owned approximately 53.11% of Chewy as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Parallel Advisors LLC boosted its position in Chewy by 150.2% during the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock worth $26,000 after purchasing an additional 473 shares during the period. Golden State Wealth Management LLC grew its stake in Chewy by 104.6% during the first quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after acquiring an additional 481 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in Chewy during the 1st quarter worth approximately $44,000. North Star Investment Management Corp. increased its holdings in shares of Chewy by 26.6% in the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock worth $55,000 after purchasing an additional 353 shares during the period. Finally, UMB Bank n.a. raised its holdings in shares of Chewy by 225.7% in the 1st 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. Hedge funds and other institutional investors own 93.09% of the company's stock.

Analysts Set New Price Targets

CHWY has been the topic of a number of research analyst reports. Citizens Jmp raised shares of Chewy to a "strong-buy" rating in a report on Thursday, July 10th. Cowen restated a "buy" rating on shares of Chewy in a research report on Friday, June 6th. Guggenheim restated a "buy" rating and issued a $45.00 target price (up previously from $42.00) on shares of Chewy in a report on Thursday, June 12th. Wall Street Zen cut shares of Chewy from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, UBS Group reissued a "neutral" rating and set a $44.00 target price on shares of Chewy in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.94.

Chewy Price Performance

Shares of CHWY opened at $41.59 on Tuesday. Chewy has a one year low of $25.82 and a one year high of $48.62. The business has a fifty day moving average of $38.82 and a 200 day moving average of $38.28. The firm has a market capitalization of $17.27 billion, a P/E ratio of 46.74, a PEG ratio of 8.84 and a beta of 1.65.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.08 billion. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 EPS. Chewy has set its FY 2025 guidance at EPS. Analysts expect that Chewy will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 29,557 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $35.57, for a total transaction of $1,051,342.49. Following the completion of the sale, the chief executive officer owned 540,406 shares of the company's stock, valued at approximately $19,222,241.42. The trade was a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Satish Mehta sold 8,727 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $35.82, for a total value of $312,601.14. Following the transaction, the chief technology officer owned 276,467 shares of the company's stock, valued at approximately $9,903,047.94. This trade represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,008,777 shares of company stock valued at $1,252,444,321 over the last three months. 0.43% of the stock is currently owned by company insiders.

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.

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