Two Sigma Advisers LP Has $12.88 Million Stock Holdings in Chewy, Inc. (NYSE:CHWY)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Advisors LLC bought a new position in shares of Chewy in the 1st quarter valued at about $334,000. SG Americas Securities LLC boosted its stake in Chewy by 125.6% in the second quarter. SG Americas Securities LLC now owns 94,838 shares of the company’s stock valued at $2,583,000 after acquiring an additional 52,809 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Chewy by 23.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 23,922 shares of the company’s stock valued at $652,000 after acquiring an additional 4,613 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Chewy by 23.7% in the 2nd quarter. Raymond James & Associates now owns 96,887 shares of the company’s stock valued at $2,639,000 after purchasing an additional 18,586 shares during the period. Finally, First Horizon Advisors Inc. bought a new position in shares of Chewy in the 2nd quarter worth $48,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value of $269,634.32. Following the completion of the sale, the chief technology officer now owns 585,962 shares in the company, valued at approximately $19,612,148.14. This trade represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,128,804 shares of company stock valued at $827,019,626. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on CHWY. Royal Bank of Canada upped their price objective on Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. UBS Group upped their price target on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Barclays boosted their price objective on shares of Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, November 18th. The Goldman Sachs Group increased their target price on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Piper Sandler boosted their price target on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.15.

Chewy Price Performance

Shares of NYSE CHWY opened at $30.90 on Tuesday. Chewy, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $39.10. The stock has a market capitalization of $12.92 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 2.95 and a beta of 1.12. The business has a 50-day moving average of $30.49 and a 200-day moving average of $27.42.

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

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.