Chewy, Inc. (NYSE:CHWY) Stake Lowered by Two Sigma Advisers LP

Two Sigma Advisers LP trimmed its position in shares of Chewy, Inc. (NYSE:CHWY) by 80.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 439,600 shares of the company’s stock after selling 1,814,200 shares during the period. Two Sigma Advisers LP owned about 0.11% of Chewy worth $12,876,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CHWY. 1620 Investment Advisors Inc. acquired a new stake in shares of Chewy during the 2nd quarter valued at about $33,000. Blue Trust Inc. lifted its stake in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after acquiring an additional 905 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in Chewy in the second quarter worth approximately $44,000. First Horizon Advisors Inc. acquired a new position in shares of Chewy during the 2nd quarter worth $48,000. Finally, Skylands Capital LLC bought a new position in shares of Chewy during the 2nd quarter valued at $52,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Trading Down 2.2 %

Shares of CHWY opened at $30.90 on Tuesday. The stock has a market cap of $12.92 billion, a PE ratio of 33.96, a PEG ratio of 2.95 and a beta of 1.12. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10. The stock has a 50 day simple moving average of $30.49 and a 200-day simple moving average of $27.42.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period in the prior year, the company posted ($0.08) earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that Chewy, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Satish Mehta sold 8,056 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.47, for a total transaction of $269,634.32. Following the completion of the transaction, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at approximately $19,612,148.14. This represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,128,804 shares of company stock worth $827,019,626 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. TD Cowen assumed coverage on Chewy in a research note on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $39.00 target price (up previously from $35.00) on shares of Chewy in a research report on Thursday, December 5th. Barclays increased their price target on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, Raymond James downgraded shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.15.

About Chewy

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.