DRW Securities LLC Makes New $293,000 Investment in Chewy, Inc. (NYSE:CHWY)

DRW Securities LLC bought a new position in shares of Chewy, Inc. (NYSE:CHWY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the company’s stock, valued at approximately $293,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHWY. Dynamic Technology Lab Private Ltd bought a new stake in shares of Chewy during the 3rd quarter worth $1,812,000. Senvest Management LLC bought a new stake in Chewy in the third quarter worth about $5,047,000. Algert Global LLC boosted its stake in Chewy by 62.1% in the third quarter. Algert Global LLC now owns 173,076 shares of the company’s stock valued at $5,069,000 after acquiring an additional 66,300 shares during the last quarter. Cerity Partners LLC grew its position in shares of Chewy by 42.4% during the 3rd quarter. Cerity Partners LLC now owns 15,324 shares of the company’s stock valued at $449,000 after acquiring an additional 4,559 shares during the period. Finally, Eagle Asset Management Inc. increased its stake in shares of Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after purchasing an additional 975,647 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CHWY has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Evercore ISI boosted their price objective on Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. UBS Group upped their price objective on shares of Chewy from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Royal Bank of Canada lifted their target price on shares of Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Piper Sandler restated an “overweight” rating and set a $35.00 price target on shares of Chewy in a research note on Friday, September 20th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.35.

Chewy Stock Performance

NYSE CHWY opened at $33.33 on Thursday. Chewy, Inc. has a 52-week low of $14.69 and a 52-week high of $39.10. The company has a fifty day moving average of $30.04 and a 200-day moving average of $26.44. The company has a market capitalization of $13.94 billion, a P/E ratio of 40.65, a P/E/G ratio of 3.34 and a beta of 1.06.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm 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%. As a group, analysts forecast that Chewy, Inc. will post 0.32 EPS for the current fiscal year.

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.