Shay Capital LLC Buys Shares of 12,500 Chewy, Inc. (NYSE:CHWY)

Shay Capital LLC bought a new stake in Chewy, Inc. (NYSE:CHWY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 12,500 shares of the company's stock, valued at approximately $419,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in Chewy by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 531,709 shares of the company's stock valued at $15,574,000 after purchasing an additional 3,814 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Chewy by 1.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company's stock valued at $661,000 after purchasing an additional 301 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in Chewy during the 4th quarter valued at approximately $222,000. Park Avenue Securities LLC bought a new position in Chewy during the 4th quarter valued at approximately $232,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in Chewy during the 4th quarter valued at approximately $206,000. Institutional investors own 93.09% of the company's stock.

Chewy Stock Performance

CHWY stock traded up $0.78 during midday trading on Tuesday, reaching $44.09. 6,393,900 shares of the company traded hands, compared to its average volume of 7,307,582. The business has a 50 day moving average of $35.27 and a 200-day moving average of $35.05. Chewy, Inc. has a 52-week low of $16.06 and a 52-week high of $44.18. The firm has a market capitalization of $18.24 billion, a price-to-earnings ratio of 48.45, a P/E/G ratio of 2.21 and a beta of 1.69.

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

Wall Street Analyst Weigh In

CHWY has been the subject of several research reports. The Goldman Sachs Group increased their target price on Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft set a $27.00 target price on Chewy and gave the stock a "hold" rating in a research report on Monday, April 14th. Argus raised Chewy from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their target price on Chewy from $40.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Seaport Res Ptn raised Chewy to a "hold" rating in a research report on Monday, March 24th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Chewy has a consensus rating of "Moderate Buy" and a consensus price target of $38.47.

Insider Transactions at Chewy

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