AM Investment Strategies LLC Takes $301,000 Position in Chewy, Inc. (NYSE:CHWY)

AM Investment Strategies LLC acquired a new stake in Chewy, Inc. (NYSE:CHWY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,727 shares of the company’s stock, valued at approximately $301,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headinvest LLC acquired a new stake in Chewy during the third quarter worth approximately $39,000. Signaturefd LLC raised its holdings in Chewy by 37.8% during the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after purchasing an additional 922 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Chewy by 15.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock worth $95,000 after purchasing an additional 543 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Chewy during the third quarter worth approximately $114,000. Finally, Liberty One Investment Management LLC increased its holdings in shares of Chewy by 23.7% in the 4th quarter. Liberty One Investment Management LLC now owns 6,483 shares of the company’s stock valued at $153,000 after acquiring an additional 1,241 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 commented on CHWY. The Goldman Sachs Group cut their target price on shares of Chewy from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. Mizuho started coverage on shares of Chewy in a report on Tuesday, March 19th. They issued a “neutral” rating and a $18.00 target price on the stock. Barclays upgraded shares of Chewy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $19.00 to $30.00 in a research report on Thursday, January 11th. Wedbush reiterated an “outperform” rating and issued a $25.00 price objective on shares of Chewy in a research report on Thursday, March 21st. Finally, Bank of America lowered their price objective on shares of Chewy from $17.00 to $16.50 and set an “underperform” rating on the stock in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.50.

Insider Transactions at Chewy

In other news, CEO Sumit Singh sold 192,642 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $17.70, for a total transaction of $3,409,763.40. Following the completion of the sale, the chief executive officer now owns 1,307,025 shares in the company, valued at approximately $23,134,342.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sumit Singh sold 192,642 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $17.70, for a total transaction of $3,409,763.40. Following the completion of the sale, the chief executive officer now owns 1,307,025 shares in the company, valued at approximately $23,134,342.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Stacy Bowman sold 8,025 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total value of $124,628.25. Following the completion of the transaction, the chief accounting officer now owns 243,769 shares of the company’s stock, valued at approximately $3,785,732.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,169 shares of company stock worth $4,396,079. 2.10% of the stock is currently owned by company insiders.

Chewy Stock Performance

CHWY stock traded up $0.29 during trading on Thursday, hitting $15.39. The stock had a trading volume of 8,495,154 shares, compared to its average volume of 9,038,051. Chewy, Inc. has a 1-year low of $14.69 and a 1-year high of $40.78. The company’s 50 day moving average price is $16.72 and its two-hundred day moving average price is $18.61. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 192.31, a price-to-earnings-growth ratio of 8.12 and a beta of 0.90.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Chewy had a net margin of 0.33% and a return on equity of 11.69%. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. As a group, sell-side analysts forecast that Chewy, Inc. will post 0.08 earnings per share for the current fiscal 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.