Maverick Capital Ltd. Boosts Stock Position in Chewy, Inc. (NYSE:CHWY)

Maverick Capital Ltd. grew its holdings in shares of Chewy, Inc. (NYSE:CHWY) by 225.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,453 shares of the company’s stock after purchasing an additional 92,450 shares during the quarter. Maverick Capital Ltd.’s holdings in Chewy were worth $3,635,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. 1620 Investment Advisors Inc. bought a new position in Chewy during the second quarter valued at about $33,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Chewy during the 2nd quarter valued at approximately $44,000. First Horizon Advisors Inc. purchased a new stake in shares of Chewy during the 2nd quarter worth approximately $48,000. Skylands Capital LLC bought a new stake in shares of Chewy in the 2nd quarter worth approximately $52,000. Finally, Quest Partners LLC purchased a new position in Chewy in the fourth quarter valued at approximately $65,000. 93.09% of the stock is currently owned by institutional investors.

Insider Transactions at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the firm’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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $318,877.12. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were 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 have sold 28,226,889 shares of company stock valued at $830,973,724 in the last quarter. Insiders own 2.10% of the company’s stock.

Chewy Stock Up 1.0 %

Chewy stock opened at $29.63 on Friday. The business has a 50-day simple moving average of $26.76 and a 200 day simple moving average of $22.13. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $39.10. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 164.61, a PEG ratio of 2.98 and a beta of 1.04.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. On average, research analysts anticipate that Chewy, Inc. will post 0.32 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. UBS Group raised their target price on Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Citigroup lifted their price objective on Chewy from $16.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Mizuho upped their price objective on shares of Chewy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, June 10th. Wedbush reiterated an “outperform” rating and issued a $35.00 target price on shares of Chewy in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Chewy from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.11.

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.