Polar Asset Management Partners Inc. Acquires 60,533 Shares of Chewy, Inc. (NYSE:CHWY)

Polar Asset Management Partners Inc. increased its stake in Chewy, Inc. (NYSE:CHWY - Free Report) by 26.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 288,733 shares of the company's stock after acquiring an additional 60,533 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.07% of Chewy worth $9,670,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Banque Transatlantique SA purchased a new position in Chewy in the fourth quarter valued at about $30,000. Fifth Third Bancorp lifted its position in shares of Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after purchasing an additional 444 shares during the last quarter. Blue Trust Inc. raised its holdings in Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock valued at $58,000 after acquiring an additional 320 shares in the last quarter. Allworth Financial LP raised its holdings in Chewy by 52.0% in the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company's stock valued at $71,000 after acquiring an additional 650 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Chewy in the 4th quarter valued at approximately $86,000. Hedge funds and other institutional investors own 93.09% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on Chewy from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. lowered their price objective on Chewy from $40.00 to $36.00 and set an "overweight" rating on the stock 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. Royal Bank of Canada restated an "outperform" rating and set a $42.00 price target on shares of Chewy in a research report on Thursday, March 27th. Finally, Seaport Res Ptn upgraded Chewy to a "hold" rating in a research report on Monday, March 24th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.47.

Chewy Price Performance

Shares of CHWY stock traded down $0.07 during trading hours on Wednesday, reaching $44.06. The company had a trading volume of 1,653,983 shares, compared to its average volume of 7,285,374. The company has a 50 day moving average of $35.51 and a 200 day moving average of $35.11. The firm has a market cap of $18.22 billion, a price-to-earnings ratio of 48.41, a P/E/G ratio of 2.21 and a beta of 1.69. Chewy, Inc. has a 1-year low of $16.06 and a 1-year high of $44.20.

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

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 8,552 shares of Chewy stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $33.35, for a total value of $285,209.20. Following the sale, the chief executive officer now owns 62,096 shares of the company's stock, valued at $2,070,901.60. This trade represents a 12.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David Reeder sold 7,863 shares of Chewy stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $36.50, for a total value of $286,999.50. Following the completion of the sale, the chief financial officer now directly owns 11,582 shares in the company, valued at $422,743. This represents a 40.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 307,411 shares of company stock valued at $11,928,229. 2.10% of the stock is owned by company insiders.

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.