Trexquant Investment LP Increases Holdings in Chewy, Inc. (NYSE:CHWY)

Trexquant Investment LP lifted its stake in Chewy, Inc. (NYSE:CHWY) by 23.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 568,688 shares of the company’s stock after buying an additional 107,603 shares during the period. Trexquant Investment LP’s holdings in Chewy were worth $19,045,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Mutual of America Capital Management LLC acquired a new stake in Chewy in the fourth quarter valued at about $2,915,000. Centiva Capital LP purchased a new stake in Chewy during the 3rd quarter worth about $2,949,000. Raymond James Financial Inc. purchased a new position in shares of Chewy during the fourth quarter valued at approximately $69,789,000. Geode Capital Management LLC boosted its holdings in shares of Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock worth $45,443,000 after purchasing an additional 119,633 shares during the last quarter. Finally, Birch Hill Investment Advisors LLC purchased a new position in Chewy during the fourth quarter worth approximately $1,174,000. 93.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CHWY has been the subject of several analyst reports. Piper Sandler upped their target price on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Guggenheim set a $42.00 price objective on Chewy and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Citigroup increased their price target on Chewy from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. BNP Paribas lowered shares of Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Finally, Argus raised Chewy from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.68.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $35.77, for a total value of $250,390,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the completion of the sale, the chief technology officer now directly owns 262,853 shares of the company’s stock, valued at $9,357,566.80. This represents a 21.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,083,269 shares of company stock valued at $290,611,129 over the last 90 days. Insiders own 2.10% of the company’s stock.

Chewy Trading Up 1.4 %

Shares of CHWY stock opened at $32.61 on Tuesday. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.09. The stock has a 50-day moving average of $35.81 and a 200-day moving average of $33.24. The stock has a market cap of $13.28 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 2.21 and a beta of 1.23.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.25. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the previous year, the firm posted $0.07 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. Sell-side analysts forecast that Chewy, Inc. will post 0.24 earnings per share for the current 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.