Picton Mahoney Asset Management Invests $2.30 Million in Chewy, Inc. (NYSE:CHWY)

Picton Mahoney Asset Management purchased a new position in Chewy, Inc. (NYSE:CHWY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 97,173 shares of the company's stock, valued at approximately $2,297,000.

Several other hedge funds have also made changes to their positions in the stock. Headinvest LLC bought a new stake in Chewy during the 3rd quarter valued at $39,000. Signaturefd LLC raised its stake in Chewy by 37.8% during the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company's stock valued at $79,000 after acquiring an additional 922 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Chewy by 15.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company's stock valued at $95,000 after acquiring an additional 543 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Chewy by 26.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 6,606 shares of the company's stock valued at $121,000 after acquiring an additional 1,380 shares in the last quarter. Finally, Liberty One Investment Management LLC raised its stake in Chewy by 23.7% during the 4th quarter. Liberty One Investment Management LLC now owns 6,483 shares of the company's stock valued at $153,000 after acquiring an additional 1,241 shares in the last quarter. Institutional investors own 93.09% of the company's stock.

Insider Activity at Chewy

In related news, CEO Sumit Singh sold 46,090 shares of Chewy stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total transaction of $696,880.80. Following the completion of the sale, the chief executive officer now owns 1,379,100 shares of the company's stock, valued at $20,851,992. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Chewy news, CTO Satish Mehta sold 8,019 shares of the business's stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $121,247.28. Following the completion of the sale, the chief technology officer now owns 569,594 shares of the company's stock, valued at $8,612,261.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sumit Singh sold 46,090 shares of the business's stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $696,880.80. Following the completion of the sale, the chief executive officer now directly owns 1,379,100 shares of the company's stock, valued at approximately $20,851,992. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,993 shares of company stock valued at $1,067,363. Insiders own 2.10% of the company's stock.

Chewy Stock Performance

Shares of CHWY stock traded up $0.97 on Thursday, reaching $16.41. 7,018,996 shares of the company's stock traded hands, compared to its average volume of 8,706,254. Chewy, Inc. has a 12-month low of $14.69 and a 12-month high of $40.78. The company has a market capitalization of $7.14 billion, a P/E ratio of 205.03, a price-to-earnings-growth ratio of 8.28 and a beta of 0.91. The business's 50 day moving average price is $16.54 and its two-hundred day moving average price is $18.48.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.09. The firm had revenue of $2.83 billion during the quarter, compared to analysts' expectations of $2.79 billion. Chewy had a return on equity of 11.69% and a net margin of 0.33%. Research analysts predict that Chewy, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on CHWY shares. Citigroup cut their target price on Chewy from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday. Royal Bank of Canada lowered their price target on Chewy from $35.00 to $22.00 and set an "outperform" rating on the stock in a research report on Friday, March 22nd. Barclays upgraded Chewy from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $19.00 to $30.00 in a research report on Thursday, January 11th. Piper Sandler lowered their price target on Chewy from $19.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 23rd. Finally, The Goldman Sachs Group lowered their price target on Chewy from $36.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $26.83.

Chewy Company 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.