Senvest Management LLC Makes New $5.05 Million Investment in Chewy, Inc. (NYSE:CHWY)

Senvest Management LLC acquired a new position in shares of Chewy, Inc. (NYSE:CHWY) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 172,298 shares of the company’s stock, valued at approximately $5,047,000.

Several other hedge funds have also modified their holdings of CHWY. 1620 Investment Advisors Inc. purchased a new stake in Chewy during the 2nd quarter worth about $33,000. Blue Trust Inc. grew its position in shares of Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after buying an additional 905 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Chewy during the second quarter worth approximately $44,000. First Horizon Advisors Inc. acquired a new stake in Chewy in the second quarter valued at approximately $48,000. Finally, Planning Capital Management Corp purchased a new position in Chewy in the third quarter worth approximately $52,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Stock Performance

Shares of CHWY opened at $34.89 on Friday. The stock has a market capitalization of $14.59 billion, a P/E ratio of 42.55, a P/E/G ratio of 3.46 and a beta of 1.06. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10. The company’s fifty day moving average is $29.91 and its two-hundred day moving average is $26.06.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 3.20% and a return on equity of 21.00%. Sell-side analysts predict that Chewy, Inc. will post 0.32 EPS for the current year.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

CHWY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. TD Cowen started coverage on Chewy in a report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price on the stock. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and raised their price target for the company from $24.00 to $40.00 in a research note on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price objective on shares of Chewy in a research report on Friday, September 20th. Finally, Raymond James downgraded Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.65.

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.