Bayesian Capital Management LP Invests $1.74 Million in Chewy, Inc. (NYSE:CHWY)

Bayesian Capital Management LP bought a new position in Chewy, Inc. (NYSE:CHWY) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 109,200 shares of the company’s stock, valued at approximately $1,737,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC bought a new stake in shares of Chewy in the fourth quarter worth approximately $65,000. Future Financial Wealth Managment LLC bought a new stake in Chewy during the first quarter valued at approximately $65,000. EntryPoint Capital LLC grew its position in Chewy by 18.0% during the first quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after buying an additional 619 shares during the period. Signaturefd LLC grew its position in Chewy by 37.8% during the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after buying an additional 922 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Chewy by 15.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock valued at $95,000 after buying an additional 543 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Stock Performance

CHWY stock traded up $0.32 during mid-day trading on Tuesday, reaching $24.71. 2,979,429 shares of the stock traded hands, compared to its average volume of 10,234,014. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10. The stock has a market capitalization of $10.75 billion, a PE ratio of 135.50, a PEG ratio of 3.75 and a beta of 1.03. The business has a 50-day moving average price of $23.84 and a two-hundred day moving average price of $19.42.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. Chewy had a net margin of 0.73% and a return on equity of 16.62%. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.85 billion. On average, equities analysts expect that Chewy, Inc. will post 0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total transaction of $499,999,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CTO Satish Mehta sold 8,019 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $121,247.28. Following the transaction, the chief technology officer now directly owns 569,594 shares in the company, valued at $8,612,261.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $28.49, for a total transaction of $499,999,500.00. The disclosure for this sale can be found here. Insiders have sold 18,942,371 shares of company stock worth $541,393,732 over the last quarter. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on CHWY shares. Mizuho boosted their target price on shares of Chewy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, June 10th. Argus lowered shares of Chewy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Wolfe Research started coverage on shares of Chewy in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Morgan Stanley upped their price target on shares of Chewy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Citigroup boosted their target price on shares of Chewy from $16.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.07.

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.