Maverick Capital Ltd. Purchases 142,133 Shares of Chewy $CHWY

Key Points

• Maverick Capital Ltd. has increased its holdings in Chewy by 242.1%, now owning a total of 200,849 shares worth approximately $6.53 million after acquiring an additional 142,133 shares.
• Several institutional investors have significantly boosted their stakes in Chewy recently, with 93.09% of the stock currently owned by institutional investors.
• Chewy reported a quarterly EPS of $0.35, beating analyst estimates and showing a 6.3% year-over-year revenue increase of $3.12 billion.

Maverick Capital Ltd. boosted its holdings in shares of Chewy (NYSE:CHWY - Free Report) by 242.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 200,849 shares of the company's stock after purchasing an additional 142,133 shares during the period. Maverick Capital Ltd.'s holdings in Chewy were worth $6,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in shares of Chewy by 158.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 554,100 shares of the company's stock worth $18,561,000 after purchasing an additional 340,016 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Chewy by 8.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,768 shares of the company's stock worth $1,399,000 after purchasing an additional 3,100 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Chewy by 336.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 113,955 shares of the company's stock worth $3,816,000 after purchasing an additional 87,843 shares during the period. Northern Trust Corp boosted its position in shares of Chewy by 151.7% during the 4th quarter. Northern Trust Corp now owns 921,580 shares of the company's stock worth $30,864,000 after purchasing an additional 555,372 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Chewy during the 4th quarter worth approximately $3,012,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Price Performance

NYSE CHWY traded up $0.38 during trading hours on Thursday, hitting $41.13. The company had a trading volume of 4,903,452 shares, compared to its average volume of 6,287,192. Chewy has a fifty-two week low of $25.19 and a fifty-two week high of $48.62. The company has a market capitalization of $17.08 billion, a price-to-earnings ratio of 46.22, a P/E/G ratio of 8.55 and a beta of 1.65. The firm's 50 day moving average is $38.89 and its 200 day moving average is $38.17.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates 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 period last year, the business earned $0.31 EPS. Chewy has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Chewy will post 0.24 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CHWY. Citigroup restated an "outperform" rating on shares of Chewy in a report on Thursday, July 10th. Evercore ISI set a $52.00 price objective on shares of Chewy and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Needham & Company LLC restated a "hold" rating on shares of Chewy in a research note on Thursday, June 12th. JPMorgan Chase & Co. upped their target price on shares of Chewy from $36.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, June 12th. Finally, Morgan Stanley reissued an "overweight" rating and set a $50.00 price objective (up from $39.00) on shares of Chewy in a research note on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Chewy presently has an average rating of "Moderate Buy" and a consensus price target of $43.78.

Insider Activity at Chewy

In other Chewy news, CEO Sumit Singh sold 29,557 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $35.57, for a total transaction of $1,051,342.49. Following the completion of the transaction, the chief executive officer directly owned 540,406 shares of the company's stock, valued at $19,222,241.42. This trade represents a 5.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 stock was 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 sold 30,008,777 shares of company stock valued at $1,252,444,321 in the last 90 days. 0.43% of the stock is currently owned by insiders.

Chewy 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.