Picton Mahoney Asset Management Buys New Shares in Chewy, Inc. (NYSE:CHWY)

Picton Mahoney Asset Management bought a new stake in Chewy, Inc. (NYSE:CHWY) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 97,173 shares of the company’s stock, valued at approximately $2,297,000.

Several other institutional investors also recently bought and sold shares of CHWY. Commonwealth Equity Services LLC grew its stake in Chewy by 77.0% during the third quarter. Commonwealth Equity Services LLC now owns 45,444 shares of the company’s stock worth $830,000 after buying an additional 19,768 shares during the period. Raymond James & Associates grew its stake in Chewy by 124.6% during the third quarter. Raymond James & Associates now owns 127,673 shares of the company’s stock worth $2,331,000 after buying an additional 70,826 shares during the period. Bank of New York Mellon Corp grew its stake in Chewy by 101.4% during the third quarter. Bank of New York Mellon Corp now owns 3,478,510 shares of the company’s stock worth $63,518,000 after buying an additional 1,751,131 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Chewy during the third quarter worth $455,000. Finally, IFM Investors Pty Ltd lifted its position in shares of Chewy by 5.7% during the third quarter. IFM Investors Pty Ltd now owns 13,371 shares of the company’s stock worth $244,000 after purchasing an additional 723 shares in the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Stock Performance

Chewy stock opened at $15.44 on Thursday. The company has a 50-day simple moving average of $16.57 and a 200-day simple moving average of $18.50. The firm has a market capitalization of $6.72 billion, a P/E ratio of 193.02, a P/E/G ratio of 8.28 and a beta of 0.91. Chewy, Inc. has a one year low of $14.69 and a one year high of $40.78.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, March 20th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.09. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. Chewy had a net margin of 0.33% and a return on equity of 11.69%. As a group, sell-side analysts forecast that Chewy, Inc. will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of Chewy in a research report on Thursday, March 21st. Mizuho assumed coverage on shares of Chewy in a research report on Tuesday, March 19th. They set a “neutral” rating and a $18.00 target price on the stock. Citigroup reduced their target price on shares of Chewy from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday. JMP Securities reissued a “market outperform” rating and set a $28.00 target price on shares of Chewy in a research report on Friday, March 15th. Finally, Jefferies Financial Group reduced their target price on shares of Chewy from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.83.

Insider Activity at Chewy

In related news, CEO Sumit Singh sold 46,090 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $696,880.80. Following the completion of the transaction, the chief executive officer now owns 1,379,100 shares in the company, valued at approximately $20,851,992. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Satish Mehta sold 8,019 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $121,247.28. Following the completion of the sale, the chief technology officer now directly owns 569,594 shares of the company’s stock, valued at $8,612,261.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 46,090 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total transaction of $696,880.80. Following the completion of the sale, the chief executive officer now directly owns 1,379,100 shares of the company’s stock, valued at $20,851,992. The disclosure for this sale can be found here. Insiders sold 69,993 shares of company stock worth $1,067,363 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

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.