Mirae Asset Global Investments Co. Ltd. Makes New Investment in Chewy (NYSE:CHWY)

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Chewy (NYSE:CHWY - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 348,441 shares of the company's stock, valued at approximately $11,326,000. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of Chewy as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC raised its holdings in Chewy by 150.2% in the first quarter. Parallel Advisors LLC now owns 788 shares of the company's stock worth $26,000 after buying an additional 473 shares during the last quarter. Banque Transatlantique SA bought a new stake in shares of Chewy in the 4th quarter worth $30,000. Golden State Wealth Management LLC increased its holdings in shares of Chewy by 104.6% in the 1st quarter. Golden State Wealth Management LLC now owns 941 shares of the company's stock worth $31,000 after purchasing an additional 481 shares in the last quarter. North Star Investment Management Corp. raised its stake in shares of Chewy by 26.6% in the first quarter. North Star Investment Management Corp. now owns 1,678 shares of the company's stock worth $55,000 after purchasing an additional 353 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Chewy by 225.7% during the first quarter. UMB Bank n.a. now owns 1,866 shares of the company's stock valued at $61,000 after purchasing an additional 1,293 shares in the last quarter. 93.09% of the stock is owned by institutional investors.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $41.75, for a total value of $1,250,000,010.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO David Reeder sold 11,582 shares of Chewy stock in a transaction that occurred on Monday, May 5th. The shares were 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 $14,486,940.64. This represents a 2.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,167,614 shares of company stock worth $1,259,102,436. Corporate insiders own 0.43% of the company's stock.

Chewy Stock Down 2.1%

Chewy stock traded down $0.88 during midday trading on Wednesday, reaching $40.98. The stock had a trading volume of 7,836,910 shares, compared to its average volume of 6,250,463. The firm has a market cap of $17.02 billion, a price-to-earnings ratio of 46.05, a price-to-earnings-growth ratio of 8.74 and a beta of 1.71. Chewy has a 52-week low of $19.75 and a 52-week high of $48.62. The company has a fifty day moving average of $41.82 and a 200 day moving average of $37.48.

Chewy (NYSE:CHWY - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The company 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 business earned $0.31 EPS. Chewy's revenue was up 6.3% compared to the same quarter last year. Equities research analysts predict that Chewy will post 0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Citigroup reaffirmed a "buy" rating and issued a $49.00 target price (up previously from $42.00) on shares of Chewy in a research report on Thursday, June 12th. Evercore ISI set a $52.00 price target on shares of Chewy and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Wall Street Zen lowered Chewy from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. The Goldman Sachs Group raised their price objective on Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Finally, Morgan Stanley restated an "overweight" rating and set a $50.00 target price (up previously from $39.00) on shares of Chewy in a research note on Thursday, June 12th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.39.

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.