Hussman Strategic Advisors Inc. Purchases Shares of 84,000 Chewy (NYSE:CHWY)

Hussman Strategic Advisors Inc. purchased a new stake in Chewy (NYSE:CHWY) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 84,000 shares of the company’s stock, valued at approximately $2,731,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Chewy by 31.8% in the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock valued at $485,093,000 after buying an additional 3,493,926 shares during the period. FMR LLC grew its holdings in shares of Chewy by 32.4% during the 4th quarter. FMR LLC now owns 5,288,757 shares of the company’s stock worth $177,120,000 after purchasing an additional 1,293,428 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Chewy by 47.4% during the 4th quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company’s stock worth $129,495,000 after purchasing an additional 1,243,981 shares during the period. Durable Capital Partners LP purchased a new stake in shares of Chewy during the 4th quarter worth about $79,050,000. Finally, Invesco Ltd. grew its holdings in shares of Chewy by 4,577.5% during the 4th quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock worth $73,381,000 after purchasing an additional 2,144,302 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CHWY. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a report on Thursday, June 12th. The Goldman Sachs Group increased their price objective on shares of Chewy from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Citigroup reaffirmed an “outperform” rating on shares of Chewy in a research report on Thursday, July 10th. JPMorgan Chase & Co. increased their price objective on shares of Chewy from $36.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, June 12th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $43.00 price objective (up previously from $41.00) on shares of Chewy in a research report on Thursday, June 5th. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Chewy has an average rating of “Moderate Buy” and an average target price of $43.89.

Chewy Stock Up 1.7%

NYSE CHWY traded up $0.64 during trading hours on Friday, hitting $38.70. The company had a trading volume of 550,913 shares, compared to its average volume of 6,335,312. Chewy has a fifty-two week low of $19.75 and a fifty-two week high of $48.62. The business has a fifty day simple moving average of $42.35 and a 200-day simple moving average of $37.91. The firm has a market cap of $16.07 billion, a P/E ratio of 43.48, a price-to-earnings-growth ratio of 7.93 and a beta of 1.71.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Chewy had a return on equity of 35.04% and a net margin of 3.21%. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts forecast that Chewy will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sumit Singh sold 148,063 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $40.67, for a total transaction of $6,021,722.21. Following the transaction, the chief executive officer directly owned 705,252 shares of the company’s stock, valued at approximately $28,682,598.84. This trade represents a 17.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 29,940,120 shares of the firm’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $41.75, for a total value of $1,250,000,010.00. The disclosure for this sale can be found here. Insiders sold 30,167,614 shares of company stock valued at $1,259,102,436 over the last three months. Corporate insiders own 0.43% of the company’s stock.

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.