Hudson Bay Capital Management LP Acquires 276,466 Shares of Chewy $CHWY

Key Points

• Hudson Bay Capital Management LP boosted its stake in Chewy by 586.3%, buying 276,466 shares in Q3 to hold 323,623 shares worth about $13.09 million (≈0.08% of the company).
• CTO Satish Mehta sold 13,013 Chewy shares at an average price of $28.99 on Feb. 2, reducing his holding by 4.54% to 273,835 shares.
• Analysts have a consensus rating of "Moderate Buy" with a $45.55 price target, institutional investors own 93.09% of the stock, and shares are trading near recent lows (opened $24.28; 12‑month low $23.06).

Hudson Bay Capital Management LP boosted its holdings in shares of Chewy (NYSE:CHWY - Free Report) by 586.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 323,623 shares of the company's stock after purchasing an additional 276,466 shares during the period. Hudson Bay Capital Management LP owned 0.08% of Chewy worth $13,091,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CHWY. Royal Bank of Canada boosted its stake in Chewy by 2.5% in the first quarter. Royal Bank of Canada now owns 220,509 shares of the company's stock worth $7,168,000 after purchasing an additional 5,466 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Chewy in the first quarter valued at $510,000. NewEdge Advisors LLC raised its holdings in shares of Chewy by 5,238.3% in the first quarter. NewEdge Advisors LLC now owns 32,510 shares of the company's stock valued at $1,057,000 after buying an additional 31,901 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Chewy by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,176,138 shares of the company's stock valued at $38,236,000 after buying an additional 17,788 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Chewy by 31.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 383,966 shares of the company's stock worth $12,483,000 after buying an additional 92,129 shares in the last quarter. Institutional investors own 93.09% of the company's stock.

Insider Activity

In other news, CTO Satish Mehta sold 13,013 shares of Chewy stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $28.99, for a total transaction of $377,246.87. Following the completion of the sale, the chief technology officer owned 273,835 shares in the company, valued at $7,938,476.65. The trade was a 4.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.43% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wolfe Research set a $44.00 price objective on shares of Chewy in a report on Monday, January 5th. Barclays dropped their target price on shares of Chewy from $52.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, March 5th. Needham & Company LLC reissued a "hold" rating on shares of Chewy in a research note on Thursday, December 11th. Morgan Stanley lowered their price target on shares of Chewy from $51.00 to $50.00 and set an "overweight" rating for the company in a report on Tuesday, March 10th. Finally, Citigroup restated a "market outperform" rating on shares of Chewy in a research report on Monday, November 24th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.55.

Chewy Stock Down 0.2%

Shares of CHWY stock opened at $24.28 on Friday. The firm has a market cap of $10.08 billion, a price-to-earnings ratio of 50.58, a PEG ratio of 1.65 and a beta of 1.60. Chewy has a 12 month low of $23.06 and a 12 month high of $48.62. The stock has a 50-day moving average price of $27.88 and a 200 day moving average price of $32.86.

Chewy Company Profile

Chewy, Inc NYSE: CHWY is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.