Chewy (NYSE:CHWY) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in Chewy (NYSE:CHWY - Free Report) by 74.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 139,889 shares of the company's stock after purchasing an additional 59,711 shares during the quarter. Victory Capital Management Inc.'s holdings in Chewy were worth $4,548,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CHWY. Vanguard Group Inc. increased its holdings in shares of Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company's stock valued at $485,093,000 after purchasing an additional 3,493,926 shares during the last quarter. Durable Capital Partners LP purchased a new stake in shares of Chewy during the 4th quarter valued at approximately $79,050,000. Invesco Ltd. raised its position in shares of Chewy by 4,577.5% during the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company's stock valued at $73,381,000 after buying an additional 2,144,302 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Chewy during the 1st quarter valued at approximately $61,390,000. Finally, Alyeska Investment Group L.P. raised its position in shares of Chewy by 6,336.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,609,149 shares of the company's stock valued at $53,890,000 after buying an additional 1,584,149 shares during the period. Institutional investors and hedge funds own 93.09% of the company's stock.

Wall Street Analysts Forecast Growth

CHWY has been the subject of a number of research analyst reports. Barclays increased their price target on Chewy from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. JMP Securities increased 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. Citigroup reiterated an "outperform" rating on shares of Chewy in a report on Thursday, July 10th. Morgan Stanley reiterated an "overweight" rating and set a $50.00 price target (up from $39.00) on shares of Chewy in a report on Thursday, June 12th. Finally, JPMorgan Chase & Co. increased their price target on Chewy from $36.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, June 12th. Nine research 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.89.

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 148,063 shares of Chewy stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $40.67, for a total transaction of $6,021,722.21. Following the completion of the sale, the chief executive officer directly owned 705,252 shares of the company's stock, valued at approximately $28,682,598.84. The trade was a 17.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Reeder sold 11,582 shares of Chewy stock in a transaction on Monday, May 5th. The stock was sold at an average price of $36.44, for a total transaction of $422,048.08. Following the sale, the chief financial officer directly owned 397,556 shares of the company's stock, valued at approximately $14,486,940.64. This trade represents a 2.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,167,614 shares of company stock worth $1,259,102,436. 0.43% of the stock is currently owned by insiders.

Chewy Stock Down 2.4%

NYSE:CHWY opened at $36.35 on Friday. The company has a fifty day simple moving average of $42.02 and a two-hundred day simple moving average of $38.04. The company has a market cap of $15.09 billion, a price-to-earnings ratio of 40.84, a price-to-earnings-growth ratio of 7.58 and a beta of 1.71. Chewy has a 52 week low of $19.75 and a 52 week high of $48.62.

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

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