Chewy, Inc. (NYSE:CHWY) Position Cut by Maverick Capital Ltd.

Maverick Capital Ltd. trimmed its stake in Chewy, Inc. (NYSE:CHWY) by 5.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 125,983 shares of the company’s stock after selling 7,470 shares during the quarter. Maverick Capital Ltd.’s holdings in Chewy were worth $3,690,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new stake in Chewy in the second quarter valued at $33,000. Blue Trust Inc. raised its stake in shares of Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after purchasing an additional 905 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in shares of Chewy during the second quarter valued at about $44,000. First Horizon Advisors Inc. bought a new stake in shares of Chewy during the second quarter valued at about $48,000. Finally, Planning Capital Management Corp bought a new stake in shares of Chewy during the third quarter valued at about $52,000. 93.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $29.40, for a total value of $789,999,991.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.10% of the company’s stock.

Chewy Stock Performance

Shares of NYSE CHWY opened at $33.41 on Friday. The stock has a market cap of $13.97 billion, a price-to-earnings ratio of 40.74, a PEG ratio of 3.12 and a beta of 1.06. The business has a 50 day simple moving average of $30.16 and a 200 day simple moving average of $26.61. Chewy, Inc. has a 52 week low of $14.69 and a 52 week high of $39.10.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a return on equity of 21.00% and a net margin of 3.20%. On average, analysts predict that Chewy, Inc. will post 0.33 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CHWY shares. Robert W. Baird lifted their price objective on shares of Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Evercore ISI lifted their price objective on shares of Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 target price on shares of Chewy in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft lifted their target price on Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $35.00 target price on shares of Chewy in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.35.

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.