Alyeska Investment Group L.P. Buys 1,584,149 Shares of Chewy, Inc. (NYSE:CHWY)

Alyeska Investment Group L.P. increased its stake in Chewy, Inc. (NYSE:CHWY) by 6,336.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,609,149 shares of the company’s stock after purchasing an additional 1,584,149 shares during the quarter. Alyeska Investment Group L.P.’s holdings in Chewy were worth $53,890,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp lifted its position in shares of Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after buying an additional 444 shares during the last quarter. Blue Trust Inc. lifted its holdings in Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares during the last quarter. Allworth Financial LP lifted its holdings in Chewy by 52.0% during the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after purchasing an additional 650 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Chewy during the third quarter worth about $63,000. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Chewy in the fourth quarter worth about $86,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Stock Up 0.8 %

Shares of Chewy stock opened at $36.66 on Friday. The company’s fifty day simple moving average is $34.16 and its two-hundred day simple moving average is $34.05. Chewy, Inc. has a 12-month low of $15.08 and a 12-month high of $40.09. The firm has a market cap of $15.16 billion, a PE ratio of 40.29, a price-to-earnings-growth ratio of 2.21 and a beta of 1.69.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the previous year, the business earned $0.07 EPS. Chewy’s revenue was up 15.0% compared to the same quarter last year. As a group, sell-side analysts expect that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO David Reeder sold 307,558 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $37.48, for a total value of $11,527,273.84. Following the completion of the sale, the chief financial officer now directly owns 546,257 shares of the company’s stock, valued at approximately $20,473,712.36. This trade represents a 36.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sumit Singh sold 57,432 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $37.90, for a total transaction of $2,176,672.80. Following the transaction, the chief executive officer now owns 877,704 shares in the company, valued at $33,264,981.60. This represents a 6.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 444,907 shares of company stock valued at $16,529,750 over the last quarter. 2.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CHWY shares. Mizuho raised their price objective on shares of Chewy from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, March 27th. Seaport Res Ptn raised Chewy to a “hold” rating in a report on Monday, March 24th. Wedbush reiterated an “outperform” rating and set a $39.00 price objective on shares of Chewy in a research note on Thursday, March 27th. Evercore ISI upgraded Chewy from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $47.00 in a research note on Monday, January 13th. Finally, Citigroup upped their price target on Chewy from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.47.

About Chewy

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.