R Squared Ltd Purchases Shares of 10,490 Chewy (NYSE:CHWY)

Key Points

• R Squared Ltd has invested approximately $341,000 in Chewy (NYSE:CHWY), acquiring 10,490 shares during the first quarter.
• Major shareholder Argos Holdings sold over 29.9 million shares of Chewy, resulting in over $1.25 billion in proceeds, while the CFO sold 11,582 shares valued at $422,048.
• Analysts have mixed ratings for Chewy, with 17 buy ratings, nine hold ratings, and a consensus target price of $43.89.

R Squared Ltd acquired a new stake in Chewy (NYSE:CHWY - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,490 shares of the company's stock, valued at approximately $341,000.

Several other hedge funds also recently modified their holdings of the stock. American Century Companies Inc. boosted its holdings in Chewy by 25.4% during the 4th quarter. American Century Companies Inc. now owns 11,710 shares of the company's stock worth $392,000 after acquiring an additional 2,372 shares during the last quarter. Sei Investments Co. bought a new stake in Chewy in the 4th quarter valued at about $2,533,000. LPL Financial LLC raised its stake in Chewy by 0.6% in the 4th quarter. LPL Financial LLC now owns 120,669 shares of the company's stock valued at $4,041,000 after acquiring an additional 771 shares during the period. Norges Bank bought a new stake in Chewy in the 4th quarter valued at about $3,007,000. Finally, Schroder Investment Management Group bought a new stake in shares of Chewy during the fourth quarter valued at about $205,000. Institutional investors own 93.09% of the company's stock.

Chewy Trading Down 0.3%

CHWY traded down $0.10 during trading on Monday, reaching $35.81. The stock had a trading volume of 7,253,895 shares, compared to its average volume of 5,764,419. The stock's 50 day moving average is $41.27 and its two-hundred day moving average is $38.04. The company has a market capitalization of $14.87 billion, a price-to-earnings ratio of 40.24, a P/E/G ratio of 7.50 and a beta of 1.67. Chewy has a one year low of $19.75 and a one year high of $48.62.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings data on Wednesday, June 11th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.08 billion. Chewy had a return on equity of 35.04% and a net margin of 3.21%. Chewy's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company earned $0.31 EPS. On average, equities research analysts predict that Chewy will post 0.24 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on CHWY. Morgan Stanley reaffirmed an "overweight" rating and issued a $50.00 target price (up previously from $39.00) on shares of Chewy in a research note on Thursday, June 12th. Jefferies Financial Group reissued a "hold" rating and set a $43.00 price objective (up previously from $41.00) on shares of Chewy in a research note on Thursday, June 5th. Mizuho lowered Chewy from an "outperform" rating to a "neutral" rating and increased their price objective for the company from $43.00 to $47.00 in a research note on Monday, June 9th. JPMorgan Chase & Co. increased their price objective on Chewy from $36.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, June 12th. Finally, Citigroup reissued an "outperform" rating on shares of Chewy in a research note on Thursday, July 10th. Nine research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.89.

Insider Buying and Selling

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 stock was sold at an average price of $41.75, for a total value of $1,250,000,010.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sumit Singh sold 148,063 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.67, for a total value of $6,021,722.21. Following the transaction, the chief executive officer directly owned 705,252 shares in the company, valued at approximately $28,682,598.84. This represents a 17.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,138,926 shares of company stock valued at $1,258,056,019. 0.43% of the stock is currently owned by corporate 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.