Cookson Peirce & Co. Inc. Invests $943,000 in Chewy $CHWY

Key Points

• Cookson Peirce & Co. Inc. invested approximately $943,000 in 29,001 shares of Chewy during the first quarter, according to their 13F filing.
• Several institutional investors have increased their holdings in Chewy, with 93.09% of the stock now owned by hedge funds.
• Chewy's stock has received multiple analyst upgrades, with target prices varying from $43.00 to $50.00, reflecting growing optimism about the company's performance.

Cookson Peirce & Co. Inc. purchased a new stake in Chewy (NYSE:CHWY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 29,001 shares of the company's stock, valued at approximately $943,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Durable Capital Partners LP bought a new stake in shares of Chewy during the 4th quarter worth approximately $79,050,000. Assenagon Asset Management S.A. bought a new position in Chewy in the 1st quarter valued at approximately $61,390,000. Alyeska Investment Group L.P. lifted its stake in Chewy by 6,336.6% in 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 purchasing an additional 1,584,149 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Chewy by 35.7% in the 1st quarter. Neuberger Berman Group LLC now owns 2,304,006 shares of the company's stock valued at $74,903,000 after purchasing an additional 606,526 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Chewy in the 1st quarter valued at approximately $19,552,000. Institutional investors and hedge funds own 93.09% of the company's stock.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of Chewy stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sumit Singh sold 4,264 shares of Chewy stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $35.57, for a total transaction of $151,670.48. Following the transaction, the chief executive officer directly owned 72,549 shares in the company, valued at $2,580,567.93. This represents a 5.55% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,008,777 shares of company stock valued at $1,252,444,321. 0.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Guggenheim restated a "buy" rating and issued a $45.00 price target (up from $42.00) on shares of Chewy in a research report on Thursday, June 12th. Jefferies Financial Group reiterated a "hold" rating and set a $43.00 price objective (up from $41.00) on shares of Chewy in a research report on Thursday, June 5th. JMP Securities raised their price objective on shares of Chewy from $39.00 to $48.00 and gave the company a "market outperform" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. raised their price objective on shares of Chewy from $36.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, June 12th. Finally, Mizuho lowered shares of Chewy from an "outperform" rating to a "neutral" rating and raised their price target for the company from $43.00 to $47.00 in a research report on Monday, June 9th. Nine equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.78.

Chewy Trading Up 4.0%

NYSE:CHWY traded up $1.55 on Friday, reaching $40.49. 8,694,184 shares of the stock traded hands, compared to its average volume of 6,261,328. The company has a market capitalization of $16.81 billion, a price-to-earnings ratio of 45.49, a PEG ratio of 8.45 and a beta of 1.67. Chewy has a 12 month low of $25.19 and a 12 month high of $48.62. The company's fifty day simple moving average is $39.42 and its 200 day simple moving average is $37.94.

Chewy (NYSE:CHWY - Get Free Report) last released 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. Chewy had a net margin of 3.21% and a return on equity of 35.04%. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the business earned $0.31 EPS. Chewy's revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Chewy will post 0.24 EPS for the current fiscal year.

Chewy Company 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.