CenterBook Partners LP Purchases 56,172 Shares of Chewy (NYSE:CHWY)

CenterBook Partners LP increased its stake in shares of Chewy (NYSE:CHWY - Free Report) by 519.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,984 shares of the company's stock after buying an additional 56,172 shares during the quarter. CenterBook Partners LP's holdings in Chewy were worth $2,178,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Chewy by 31.8% during the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock worth $485,093,000 after buying an additional 3,493,926 shares during the last quarter. FMR LLC increased its position in Chewy by 32.4% during the 4th quarter. FMR LLC now owns 5,288,757 shares of the company's stock worth $177,120,000 after purchasing an additional 1,293,428 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Chewy by 47.4% in the 4th quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company's stock valued at $129,495,000 after purchasing an additional 1,243,981 shares during the last quarter. Durable Capital Partners LP acquired a new stake in Chewy in the fourth quarter valued at approximately $79,050,000. Finally, Invesco Ltd. grew its stake in shares of Chewy by 4,577.5% during the fourth quarter. Invesco Ltd. now owns 2,191,146 shares of the company's stock worth $73,381,000 after buying an additional 2,144,302 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company's stock.

Insider Transactions at Chewy

In other news, CFO David Reeder sold 11,582 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $36.44, for a total transaction of $422,048.08. Following the completion of the sale, the chief financial officer directly owned 397,556 shares of the company's stock, valued at $14,486,940.64. The trade was a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the firm's stock in a transaction dated 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. Insiders have sold 30,167,614 shares of company stock valued at $1,259,102,436 in the last 90 days. 0.43% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CHWY. Jefferies Financial Group reissued a "hold" rating and set a $43.00 price objective (up previously from $41.00) on shares of Chewy in a report on Thursday, June 5th. JMP Securities boosted their price target on Chewy from $39.00 to $48.00 and gave the stock a "market outperform" rating in a report on Thursday, July 10th. Guggenheim reaffirmed a "buy" rating and issued a $45.00 price objective (up previously from $42.00) on shares of Chewy in a research note on Thursday, June 12th. Citizens Jmp upgraded shares of Chewy to a "strong-buy" rating in a research report on Thursday, July 10th. Finally, Mizuho lowered shares of Chewy from an "outperform" rating to a "neutral" rating and boosted their target price for the stock from $43.00 to $47.00 in a report on Monday, June 9th. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.89.

Chewy Price Performance

Shares of Chewy stock traded up $1.11 during trading on Friday, reaching $39.17. 2,377,090 shares of the company traded hands, compared to its average volume of 6,137,673. The firm has a market capitalization of $16.26 billion, a PE ratio of 44.01, a P/E/G ratio of 7.93 and a beta of 1.71. Chewy has a 1-year low of $19.75 and a 1-year high of $48.62. The company has a 50 day moving average price of $42.35 and a 200-day moving average price of $37.91.

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