BC Partners Advisors L.P. Invests $7.52 Billion in Chewy, Inc. (NYSE:CHWY)

BC Partners Advisors L.P. acquired a new stake in Chewy, Inc. (NYSE:CHWY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 275,984,813 shares of the company’s stock, valued at approximately $7,517,800,000. Chewy comprises 81.6% of BC Partners Advisors L.P.’s holdings, making the stock its largest position. BC Partners Advisors L.P. owned about 63.46% of Chewy as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. EntryPoint Capital LLC boosted its position in shares of Chewy by 18.0% in the first quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock worth $65,000 after acquiring an additional 619 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Chewy by 3.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock valued at $451,000 after buying an additional 870 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Chewy by 10.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock worth $308,000 after buying an additional 1,029 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Chewy in the second quarter valued at $33,000. Finally, Camelot Portfolios LLC grew its position in Chewy by 14.0% during the first quarter. Camelot Portfolios LLC now owns 10,200 shares of the company’s stock valued at $162,000 after acquiring an additional 1,249 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Price Performance

Shares of NYSE CHWY opened at $31.11 on Friday. The firm has a market capitalization of $13.53 billion, a PE ratio of 172.83, a P/E/G ratio of 3.02 and a beta of 1.04. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $39.10. The business’s fifty day moving average price is $26.54 and its two-hundred day moving average price is $21.76.

Insider Buying and Selling at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of Chewy stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $30.32, for a total transaction of $40,576,103.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Sumit Singh sold 14,338 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the sale, the chief executive officer now owns 1,398,271 shares of the company’s stock, valued at approximately $31,097,547.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $30.32, for a total transaction of $40,576,103.84. The disclosure for this sale can be found here. Insiders sold 18,906,141 shares of company stock valued at $540,973,233 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

CHWY has been the topic of a number of recent research reports. Needham & Company LLC lifted their price target on shares of Chewy from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Chewy from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Guggenheim raised their price objective on Chewy from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Piper Sandler began coverage on Chewy in a research report on Friday, August 23rd. They issued an “overweight” rating and a $35.00 target price for the company. Finally, Robert W. Baird raised their target price on Chewy from $26.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.11.

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.