Yarbrough Capital LLC Grows Position in Chewy, Inc. (NYSE:CHWY)

Yarbrough Capital LLC increased its position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 55.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,892 shares of the company's stock after purchasing an additional 9,542 shares during the period. Yarbrough Capital LLC's holdings in Chewy were worth $874,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mutual of America Capital Management LLC purchased a new position in shares of Chewy during the 4th quarter worth about $2,915,000. Raymond James Financial Inc. bought a new stake in Chewy during the 4th quarter valued at about $69,789,000. Polar Asset Management Partners Inc. lifted its holdings in Chewy by 26.5% during the 4th quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company's stock valued at $9,670,000 after buying an additional 60,533 shares in the last quarter. Birch Hill Investment Advisors LLC bought a new stake in Chewy during the 4th quarter valued at about $1,174,000. Finally, Interval Partners LP bought a new stake in Chewy during the 4th quarter valued at about $1,536,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Sumit Singh sold 148,063 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $40.67, for a total transaction of $6,021,722.21. Following the sale, the chief executive officer now directly owns 705,252 shares of the company's stock, valued at approximately $28,682,598.84. This represents a 17.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David Reeder sold 7,863 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $36.50, for a total transaction of $286,999.50. Following the sale, the chief financial officer now directly owns 11,582 shares in the company, valued at $422,743. This trade represents a 40.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 236,046 shares of company stock valued at $9,387,635 in the last ninety days. Insiders own 0.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JMP Securities decreased their price objective on shares of Chewy from $40.00 to $39.00 and set a "market outperform" rating for the company in a report on Monday, April 14th. Wedbush reiterated an "outperform" rating and set a $39.00 price objective on shares of Chewy in a research note on Thursday, March 27th. JPMorgan Chase & Co. reduced their price objective on shares of Chewy from $40.00 to $36.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Needham & Company LLC reiterated a "hold" rating on shares of Chewy in a research note on Thursday, March 27th. Finally, Seaport Res Ptn upgraded shares of Chewy to a "hold" rating in a research note on Monday, March 24th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $41.00.

Chewy Trading Up 1.4%

NYSE:CHWY opened at $48.16 on Friday. The company has a market cap of $19.92 billion, a PE ratio of 52.92, a P/E/G ratio of 2.21 and a beta of 1.75. Chewy, Inc. has a twelve month low of $19.75 and a twelve month high of $48.62. The company's 50 day moving average is $38.76 and its two-hundred day moving average is $36.36.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.03 by $0.25. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business's revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. As a group, analysts expect that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

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.

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