Two Sigma Advisers LP Reduces Position in Chewy, Inc. (NYSE:CHWY)

Two Sigma Advisers LP trimmed its position in shares of Chewy, Inc. (NYSE:CHWY - Free Report) by 80.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 439,600 shares of the company's stock after selling 1,814,200 shares during the period. Two Sigma Advisers LP owned 0.11% of Chewy worth $12,876,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BC Partners Advisors L.P. purchased a new position in Chewy during the second quarter valued at $7,517,800,000. FMR LLC grew its stake in Chewy by 166.8% during the third quarter. FMR LLC now owns 3,995,329 shares of the company's stock valued at $117,023,000 after acquiring an additional 2,497,689 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Chewy by 7.8% during the second quarter. Bank of New York Mellon Corp now owns 3,553,104 shares of the company's stock valued at $96,787,000 after acquiring an additional 258,502 shares in the last quarter. Marshall Wace LLP grew its stake in Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company's stock valued at $78,801,000 after acquiring an additional 2,636,526 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its stake in shares of Chewy by 5.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company's stock worth $81,014,000 after buying an additional 138,768 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Raymond James cut shares of Chewy from an "outperform" rating to a "market perform" rating in a research note on Wednesday, August 21st. TD Cowen assumed coverage on shares of Chewy in a research note on Wednesday, October 9th. They issued a "buy" rating and a $38.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Chewy from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Robert W. Baird lifted their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an "outperform" rating in a research note on Monday, November 25th. Finally, Royal Bank of Canada lifted their price objective on shares of Chewy from $39.00 to $42.00 and gave the stock an "outperform" rating in a research note on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.15.

Insider Transactions at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Satish Mehta sold 8,056 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total transaction of $269,634.32. Following the sale, the chief technology officer now directly owns 585,962 shares in the company, valued at approximately $19,612,148.14. This represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,128,804 shares of company stock valued at $827,019,626 in the last 90 days. Insiders own 2.10% of the company's stock.

Chewy Stock Up 1.6 %

CHWY traded up $0.48 on Tuesday, reaching $31.37. 4,958,708 shares of the company traded hands, compared to its average volume of 8,592,875. The firm has a fifty day simple moving average of $30.49 and a two-hundred day simple moving average of $27.42. Chewy, Inc. has a one year low of $14.69 and a one year high of $39.10. The company has a market cap of $13.12 billion, a P/E ratio of 34.47, a price-to-earnings-growth ratio of 2.95 and a beta of 1.12.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the previous year, the firm earned ($0.08) EPS. The company's quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that Chewy, Inc. will post 0.34 earnings per share 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.