Van Berkom & Associates Inc. Makes New $52.18 Million Investment in Chewy $CHWY

Van Berkom & Associates Inc. purchased a new position in Chewy (NYSE:CHWY) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,867,070 shares of the company’s stock, valued at approximately $52,181,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CHWY. Pictet Asset Management Holding SA boosted its holdings in shares of Chewy by 6.3% in the third quarter. Pictet Asset Management Holding SA now owns 36,327 shares of the company’s stock worth $661,000 after buying an additional 2,150 shares during the period. CenterBook Partners LP acquired a new stake in shares of Chewy during the third quarter valued at approximately $555,000. Kestra Advisory Services LLC raised its holdings in shares of Chewy by 20.4% during the third quarter. Kestra Advisory Services LLC now owns 120,780 shares of the company’s stock valued at $2,198,000 after acquiring an additional 20,461 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in shares of Chewy during the third quarter valued at approximately $233,000. Finally, SFE Investment Counsel raised its holdings in shares of Chewy by 3.2% during the third quarter. SFE Investment Counsel now owns 128,605 shares of the company’s stock valued at $2,341,000 after acquiring an additional 4,017 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

Insider Activity

In other Chewy news, CEO Sumit Singh sold 23,002 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $21.40, for a total value of $492,242.80. Following the completion of the sale, the chief executive officer owned 899,118 shares of the company’s stock, valued at $19,241,125.20. The trade was a 2.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO William G. Billings sold 17,283 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $21.00, for a total value of $362,943.00. Following the completion of the sale, the chief accounting officer directly owned 39,772 shares of the company’s stock, valued at $835,212. This represents a 30.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 48,328 shares of company stock worth $1,035,010. Corporate insiders own 0.34% of the company’s stock.

Chewy Stock Performance

CHWY stock opened at $23.01 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.84 and a debt-to-equity ratio of 1.59. Chewy has a 12 month low of $17.40 and a 12 month high of $37.34. The firm has a 50 day moving average of $20.81 and a two-hundred day moving average of $23.05. The company has a market capitalization of $9.25 billion, a price-to-earnings ratio of 36.00, a P/E/G ratio of 0.97 and a beta of 1.33.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.18. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Chewy had a net margin of 2.09% and a return on equity of 60.88%. Chewy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. As a group, equities analysts anticipate that Chewy will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CHWY. Zacks Research upgraded shares of Chewy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Chewy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, September 28th. JPMorgan Chase & Co. downgraded shares of Chewy from an “overweight” rating to a “neutral” rating and cut their target price for the company from $29.00 to $24.00 in a research note on Friday, September 11th. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research note on Thursday, September 10th. Finally, The Goldman Sachs Group reduced their target price on Chewy from $34.00 to $30.00 and set a “buy” rating for the company in a report on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.45.

About Chewy

Chewy, Inc is an online retailer focused on pet food, supplies and related services. Through its website and mobile app, the company sells products for dogs, cats and other pets, including food, treats, toys, bedding and grooming supplies.

Chewy also offers pet medications and health products through Chewy Pharmacy, along with services such as veterinary care. Its business combines product sales with services designed to support pet owners throughout their pets’ lives.

Founded in 2011, Chewy primarily serves customers in the United States.