Virtu Financial LLC Makes New Investment in Chewy, Inc. (NYSE:CHWY)

Virtu Financial LLC acquired a new stake in shares of Chewy, Inc. (NYSE:CHWY) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 27,155 shares of the company’s stock, valued at approximately $795,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cetera Advisors LLC bought a new position in shares of Chewy in the first quarter valued at $334,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Chewy by 23.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 23,922 shares of the company’s stock valued at $652,000 after purchasing an additional 4,613 shares during the period. Raymond James & Associates raised its holdings in Chewy by 23.7% during the 2nd quarter. Raymond James & Associates now owns 96,887 shares of the company’s stock worth $2,639,000 after buying an additional 18,586 shares during the period. First Horizon Advisors Inc. purchased a new stake in Chewy during the second quarter valued at about $48,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Chewy in the second quarter worth about $33,000. 93.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Satish Mehta sold 8,056 shares of the stock in a transaction on Monday, December 2nd. The shares were 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 owns 585,962 shares of the company’s stock, valued at approximately $19,612,148.14. This represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,956,046 shares of company stock valued at $1,448,008,845 over the last three months. 2.10% of the stock is owned by corporate insiders.

Chewy Stock Up 1.2 %

Shares of NYSE CHWY opened at $32.26 on Friday. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10. The company has a market cap of $13.49 billion, a P/E ratio of 35.45, a P/E/G ratio of 4.28 and a beta of 1.12. The business’s 50 day moving average is $30.73 and its two-hundred day moving average is $27.70.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.05 by $0.15. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) EPS. Sell-side analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on CHWY. JPMorgan Chase & Co. upped their price target on shares of Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. TD Cowen assumed coverage on Chewy in a research report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price for the company. The Goldman Sachs Group upped their price target on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Evercore ISI lifted their target price on Chewy from $22.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Finally, Citigroup raised shares of Chewy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $28.00 to $40.00 in a research report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.15.

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.