Capricorn Fund Managers Ltd Sells 127,753 Shares of Chewy (NYSE:CHWY)

Key Points

• Capricorn Fund Managers Ltd reduced its stake in Chewy by 91.6%, selling 127,753 shares, leaving them with 11,747 shares worth approximately $382,000 at the end of the first quarter.
• Insiders, including CFO David Reeder and CEO Sumit Singh, sold significant shares of Chewy, with Reeder selling 11,582 shares and Singh selling 148,063 shares, indicating a decrease in their ownership.
• Chewy's recent financial performance showed revenue growth of 6.3% year-over-year, reporting earnings of $0.35 per share compared to estimates of $0.34, along with analyst target price upgrades from multiple firms.

Capricorn Fund Managers Ltd reduced its holdings in Chewy (NYSE:CHWY - Free Report) by 91.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,747 shares of the company's stock after selling 127,753 shares during the quarter. Capricorn Fund Managers Ltd's holdings in Chewy were worth $382,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CHWY. Parallel Advisors LLC boosted its stake in Chewy by 150.2% during the 1st quarter. Parallel Advisors LLC now owns 788 shares of the company's stock valued at $26,000 after purchasing an additional 473 shares in the last quarter. Banque Transatlantique SA bought a new position in Chewy during the 4th quarter valued at $30,000. Golden State Wealth Management LLC boosted its stake in Chewy by 104.6% during the 1st quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock valued at $31,000 after purchasing an additional 481 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in Chewy during the 1st quarter valued at $44,000. Finally, North Star Investment Management Corp. boosted its stake in Chewy by 26.6% during the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock valued at $55,000 after purchasing an additional 353 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Stock Performance

Shares of NYSE:CHWY traded down $0.78 during midday trading on Friday, hitting $35.92. 3,932,453 shares of the stock were exchanged, compared to its average volume of 5,567,747. Chewy has a 52-week low of $19.75 and a 52-week high of $48.62. The business's fifty day simple moving average is $41.27 and its two-hundred day simple moving average is $38.03. The company has a market capitalization of $14.91 billion, a PE ratio of 40.36, a P/E/G ratio of 7.66 and a beta of 1.67.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on CHWY. Evercore ISI set a $52.00 price target on Chewy and gave the company an "outperform" rating in a research note on Thursday, June 12th. Deutsche Bank Aktiengesellschaft set a $27.00 price objective on Chewy and gave the stock a "hold" rating in a research note on Monday, April 14th. Barclays raised their price objective on Chewy from $44.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. Citizens Jmp raised Chewy to a "strong-buy" rating in a research note on Thursday, July 10th. Finally, Guggenheim reissued a "buy" rating and set a $45.00 price objective (up from $42.00) on shares of Chewy in a research note on Thursday, June 12th. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Chewy presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.89.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $41.75, for a total transaction of $1,250,000,010.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David Reeder sold 11,582 shares of Chewy 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 transaction, the chief financial officer 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 have sold a total of 30,150,508 shares of company stock worth $1,258,478,067 over the last three months. Corporate insiders own 0.43% of the company's stock.

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.