BI Asset Management Fondsmaeglerselskab A S Boosts Stake in Chewy $CHWY

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly increased its stake in Chewy by 515.1%, owning 163,841 shares valued at approximately $5.33 million at the end of the first quarter.
• Several equities analysts have upgraded Chewy's stock ratings, with a consensus price target of $43.78 indicating a positive outlook for the company.
• Insider trading activity has been notable, with executives selling significant shares, including a major shareholder selling over 29 million shares, raising concerns about insider confidence in the company's future.

BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Chewy (NYSE:CHWY - Free Report) by 515.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,841 shares of the company's stock after acquiring an additional 137,204 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Chewy were worth $5,326,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Aigen Investment Management LP purchased a new stake in shares of Chewy in the first quarter valued at approximately $791,000. Jefferies Financial Group Inc. acquired a new stake in shares of Chewy in the 1st quarter worth $3,251,000. D.A. Davidson & CO. increased its stake in shares of Chewy by 38.7% in the 1st quarter. D.A. Davidson & CO. now owns 43,725 shares of the company's stock worth $1,422,000 after acquiring an additional 12,206 shares during the last quarter. Polar Asset Management Partners Inc. raised its holdings in shares of Chewy by 26.5% during the 4th quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company's stock worth $9,670,000 after acquiring an additional 60,533 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Chewy by 74.5% in the first quarter. Victory Capital Management Inc. now owns 139,889 shares of the company's stock valued at $4,548,000 after purchasing an additional 59,711 shares during the period. Institutional investors and hedge funds own 93.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CHWY shares. Citizens Jmp upgraded shares of Chewy to a "strong-buy" rating in a report on Thursday, July 10th. Citigroup reissued an "outperform" rating on shares of Chewy in a research note on Thursday, July 10th. Jefferies Financial Group reissued a "hold" rating and set a $43.00 target price (up previously from $41.00) on shares of Chewy in a research note on Thursday, June 5th. JMP Securities lifted their target price on Chewy from $39.00 to $48.00 and gave the company a "market outperform" rating in a research report on Thursday, July 10th. Finally, Guggenheim reissued a "buy" rating and set a $45.00 price target (up previously from $42.00) on shares of Chewy in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $43.78.

Insider Buying and Selling

In other news, CAO William G. Billings sold 20,142 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $35.57, for a total value of $716,450.94. Following the transaction, the chief accounting officer owned 29,464 shares of the company's stock, valued at approximately $1,048,034.48. The trade was a 40.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $41.75, for a total transaction of $1,250,000,010.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,008,777 shares of company stock valued at $1,252,444,321. Company insiders own 0.43% of the company's stock.

Chewy Stock Performance

Chewy stock opened at $40.88 on Thursday. The company has a market capitalization of $16.97 billion, a P/E ratio of 45.93, a PEG ratio of 8.55 and a beta of 1.67. Chewy has a fifty-two week low of $25.19 and a fifty-two week high of $48.62. The stock has a 50-day simple moving average of $39.21 and a 200-day simple moving average of $37.99.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.08 billion. Chewy had a return on equity of 35.04% and a net margin of 3.21%.The firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. Chewy has set its FY 2025 guidance at EPS. As a group, analysts forecast that Chewy will post 0.24 earnings per share for the current year.

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.

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