GAMMA Investing LLC Grows Holdings in Chewy, Inc. (NYSE:CHWY)

GAMMA Investing LLC increased its position in Chewy, Inc. (NYSE:CHWY - Free Report) by 13,804.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,360 shares of the company's stock after acquiring an additional 95,667 shares during the period. GAMMA Investing LLC's holdings in Chewy were worth $2,964,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its stake in Chewy by 8.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company's stock worth $189,000 after acquiring an additional 450 shares during the period. Wilmington Savings Fund Society FSB increased its stake in Chewy by 30.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company's stock valued at $94,000 after purchasing an additional 650 shares during the last quarter. Allworth Financial LP increased its stake in Chewy by 52.0% in the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company's stock valued at $71,000 after purchasing an additional 650 shares during the last quarter. Snowden Capital Advisors LLC boosted its stake in Chewy by 4.2% in the 4th quarter. Snowden Capital Advisors LLC now owns 16,442 shares of the company's stock worth $551,000 after buying an additional 669 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in Chewy by 0.6% in the 4th quarter. LPL Financial LLC now owns 120,669 shares of the company's stock worth $4,041,000 after buying an additional 771 shares during the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Stock Up 1.0%

CHWY stock traded up $0.41 during midday trading on Friday, reaching $41.62. 7,209,845 shares of the company's stock traded hands, compared to its average volume of 6,950,228. The company has a 50-day simple moving average of $39.63 and a two-hundred day simple moving average of $36.58. Chewy, Inc. has a 1-year low of $19.75 and a 1-year high of $48.62. The company has a market cap of $17.22 billion, a price-to-earnings ratio of 45.74, a PEG ratio of 2.21 and a beta of 1.75.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.08 billion. During the same quarter in the previous year, the company posted $0.31 EPS. Chewy's revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Chewy, Inc. will post 0.24 EPS for the current year.

Insider Activity at Chewy

In other news, CFO David Reeder sold 11,582 shares of the firm's 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 completion of the sale, the chief financial officer now directly owns 397,556 shares of the company's stock, valued at $14,486,940.64. This trade represents a 2.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sumit Singh sold 8,552 shares of Chewy stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total transaction of $285,209.20. Following the completion of the sale, the chief executive officer now directly owns 62,096 shares in the company, valued at approximately $2,070,901.60. This represents a 12.11% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 236,046 shares of company stock worth $9,387,635. 0.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CHWY has been the subject of a number of recent analyst reports. Needham & Company LLC restated a "hold" rating on shares of Chewy in a report on Thursday. Jefferies Financial Group reiterated a "hold" rating and issued a $43.00 target price (up previously from $41.00) on shares of Chewy in a report on Thursday, June 5th. Morgan Stanley upped their price target on Chewy from $39.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday. JMP Securities cut their price objective on Chewy from $40.00 to $39.00 and set a "market outperform" rating on the stock in a report on Monday, April 14th. Finally, Royal Bank of Canada boosted their target price on Chewy from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Thursday. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Chewy currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.72.

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.