Free Trial

Blueshift Asset Management LLC Has $2.52 Million Stake in Chewy (NYSE:CHWY)

Chewy logo with Retail/Wholesale background

Key Points

  • Blueshift Asset Management LLC significantly increased its stake in Chewy by 114.6%, reaching holdings worth approximately $2.52 million.
  • Chewy's recent quarterly earnings exceeded analysts' expectations, reporting $3.12 billion in revenue and an EPS of $0.35.
  • Multiple analysts have recently upgraded their price targets for Chewy, with Guggenheim setting a new target of $45.00 and UBS increasing it to $46.00.
  • Five stocks to consider instead of Chewy.

Blueshift Asset Management LLC raised its stake in Chewy (NYSE:CHWY - Free Report) by 114.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,456 shares of the company's stock after purchasing an additional 41,355 shares during the quarter. Chewy accounts for about 1.0% of Blueshift Asset Management LLC's portfolio, making the stock its 10th biggest position. Blueshift Asset Management LLC's holdings in Chewy were worth $2,518,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of CHWY. D.A. Davidson & CO. grew its position in Chewy by 38.7% during the first quarter. D.A. Davidson & CO. now owns 43,725 shares of the company's stock valued at $1,422,000 after buying an additional 12,206 shares during the period. Polar Asset Management Partners Inc. grew its position 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 valued at $9,670,000 after acquiring an additional 60,533 shares during the period. Victory Capital Management Inc. increased its stake in shares of Chewy by 74.5% during the 1st quarter. Victory Capital Management Inc. now owns 139,889 shares of the company's stock worth $4,548,000 after purchasing an additional 59,711 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Chewy during the 1st quarter worth approximately $11,326,000. Finally, Interval Partners LP bought a new stake in shares of Chewy in the 4th quarter worth approximately $1,536,000. Hedge funds and other institutional investors own 93.09% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on CHWY. JPMorgan Chase & Co. increased their price objective on Chewy from $36.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Wall Street Zen lowered Chewy from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Guggenheim reaffirmed a "buy" rating and set a $45.00 price objective (up from $42.00) on shares of Chewy in a report on Thursday, June 12th. Royal Bank Of Canada reiterated an "outperform" rating and set a $44.00 target price (up previously from $42.00) on shares of Chewy in a research report on Thursday, June 12th. Finally, Barclays lifted their target price on shares of Chewy from $44.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.89.

Get Our Latest Report on Chewy

Chewy Price Performance

NYSE CHWY traded down $0.78 on Friday, reaching $35.92. 3,932,453 shares of the company's stock traded hands, compared to its average volume of 5,567,747. The stock has a market cap of $14.91 billion, a PE ratio of 40.36, a P/E/G ratio of 7.50 and a beta of 1.67. Chewy has a 12 month low of $19.75 and a 12 month high of $48.62. The stock has a 50-day simple moving average of $41.27 and a 200 day simple moving average of $38.03.

Chewy (NYSE:CHWY - Get Free Report) last announced its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) 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 firm had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.08 billion. During the same period last year, the firm earned $0.31 earnings per share. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, analysts anticipate that Chewy will post 0.24 EPS for the current year.

Insider Activity

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $41.75, for a total value of $1,250,000,010.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sumit Singh sold 148,063 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.67, for a total value of $6,021,722.21. Following the transaction, the chief executive officer directly owned 705,252 shares of the company's stock, 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. Over the last three months, insiders have sold 30,150,508 shares of company stock valued at $1,258,478,067. Company insiders own 0.43% of the company's stock.

About Chewy

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Chewy (NYSE:CHWY)

Should You Invest $1,000 in Chewy Right Now?

Before you consider Chewy, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Chewy wasn't on the list.

While Chewy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

(Almost)  Everything You Need To Know About The EV Market Cover

Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Palantir & AMD Earnings: Massive Options Setups Ahead
3 Value Plays Set to Explode
5 Stocks to BUY NOW in August 2025

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines